alleryStart learning →Private firm, turnover Rs 250 crore, no loans: is an internal auditor compulsory?
AYes, turnover test met
BNo, only listed ones
COnly if a subsidiary
DNo, loans are nil
Answer & Solution
Correct answer: A. Yes, turnover test met
Turnover above Rs 200 crore alone satisfies Rule 13(1)(c)(i), as the tests are alternatives.
Keep practising Internal Audit
Browse all Internal Audit questions for CA Final, or explore more Auditing topics.
Related questions
The second line is separate from delivery but is:Management owns internal control; internal auditors:Strategic planning for internal audit may use which framework?Internal audit's role in enterprise risk management is typically:The Sarbanes-Oxley Act, which raised the profession's profile, dates from:Internal audit scope can include proactive audits to identify:Internal audit is often used as what for future managers?Sawyer urged auditors to focus on which type of auditing?