Q. internal Audit

Question

A Chartered Accountant is appointed to audit the accounts of the club of which he is the member ( CA "X" is the member of Rotary Club).The audit report is meant only for the members of the club and not for any other purpose.The audit can be done by any other member also who is not Chartered accountant

Querry is

whether Chartered accountant should follow the guildelines of ICAI while signing the report when the same audit assignment can be taken up by a non Chartered Accountant?

If no

 can he sign   --------------as

Ca "X"

Internal Auditor of Rotary Club.........

Answer 1

To maintain independence, such provisions have been incorporated. Statutory audit cannot be done.. however, internal audit may be done