Question

The Internal auditor of a joint stock company ___________.

• A. need not passes the qualifications laid down in the Companies Act.
• B. should be chartered accountant
• C. should be a charactered accountant or a cost accountant
• D. should hold some other professional qualifications

Answer 1

The correct option is A need not passes the qualifications laid down in the Companies Act.

There is no specific qualification criteria is defined in the Companies Act for appointment of internal auditors. Hence internal auditor need not to posses the qualifications laid down in the Companies Act as these are mandatory for statutory auditors.