is not compulsory for every company to have an internal audit
system. As per the Companies Act 2013, following class of companies shall have to mandatorily appoint internal auditor. 1. Every Listed Company 2. Every Unlisted public company if during the preceding financial year, it satisfies any of the below mentioned conditions: ⚫ turnover of rupees two hundred crore or more. ⚫ paid up share capital of rupees fifty crore or more. ⚫ outstanding loans or borrowings from banks or PFI exceeding rupees one hundred crore or more at any point of time. outstanding deposits of rupees twenty five crore or more at any point of time. 3. Every private company if during the preceding financial year, it satisfies any of the below mentioned conditions: ⚫ turnover of rupees two hundred crore or more. ⚫outstanding loans or borrowings from banks or PFI exceeding rupees one hundred crore of more at any point of time.