Perception of State Government Employees of Kerala about internal Audit and Assurance Standards of Institute of Cost Accountants of India.

Abstract

Internal audit is mandatory as per sec 138 of the companies Act 2013 and the Companies (Auditor’s Report) Order, 2020 .As per the sec 138 of the companies Act 2013 and Rule 13 (1) of the Companies (Accounts) Rules, 2014, certain types of companies has to appoint an internal auditor to conduct internal audit and to submit report on the basis of it .As per the above mentioned acts and rules, a company can appoint a cost accountant as an internal auditor. There is a separate wing in the Institute of Cost Accountants of India, known as Internal Auditing and Assurance Standards Board (IAASB) to monitor and guide activities of the cost accountants with respect to internal audit .Cost audit and internal audit is very significant and relevant as far as government companies are concerned .In Kerala ,most of the employees of the PSUs are deputed  from the Government sector .Therefore ,they have to  attain basic knowledge about the regulations ,procedures ,rules and acts with respect to the PSUs. .Therefore, the researchers tries to understand the Perception of State Government Employees of Kerala about   internal Audit and Assurance Standards of Institute of Cost Accountants of India.