Practical problems of Advanced Auditing and Professional Ethics-I

Comment on the following in the light of the provisions of Companies Act,2013
(1)PQR Ltd ,a  listed company, appoints R as its internal auditor. R is a member of Institute of Chartered Accountants of India but does not hold a certificate of practice
(2)ABC Ltd, a  listed company, proposes to appoint X& Co,a CA firm,as its internal auditor. X &Co are statutory auditors of  A Ltd. which is a subsidiary of ABC Ltd
(3)MNO Ltd,,a  listed company, appoints M as its internal auditor. M is a member of Institute of Cost Accountants of India but does not hold a certificate of practice
(4)ZLtd,a  listed company, contends that it is not required to appoint an internal auditor since its figures for preceding financial year were as under:
paid-up capital-Rs48 crores
turnover-Rs150 crores
outstanding loans or borrowings- Rs 90 crores
outstanding deposits-Nil
(5)PQR Pvt Ltd, had turnover of Rs. 180 crores and paid-up capital of Rs.60 crores  during the preceding financial year . Its outstanding loans or borrowings were Nil during the preceding financial year.  The company hasnt appointed any internal auditor