Who may be appointed in an individual capacity as the statutory auditor of a company under section 141(1) of the Companies Act, 2013?

Section 141(1) of the Companies Act, 2013 allows only a chartered accountant to be appointed auditor of a company, and the term means a member of the Institute in practice. Membership of the Institute without a certificate of practice is not enough. A cost accountant audits cost records under section 148 and a company secretary in practice gives the secretarial audit report under section 204, but neither can be the statutory auditor.