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Question: Who out of the following cannot be appointed as a statutory auditor of the company?

Options:

  1.  Erstwhile director
  2.  Internal auditor
  3.  Relative of a director
  4.  Only Internal auditor and Relative of a director

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1 Answer

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2. Internal auditor

Internal auditor cannot be appointed as a statutory auditor of the company.


Explanation:

Internal Auditor is an independent, accountable qualified specialist tasked with providing an audit of financial and operational business activities.

They are hired to increase value and improve organizational performance and ensure that companies follow the correct procedures. But, they can't be appointed as a statutory auditor of the company.

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