Appointment of auditor

This query is : Resolved

CA NAVEEN SINGLA (Querist)
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21 December 2014 If the Co. incorporated in Jan, 2014 meet the CA before AGM who has hold COP but whose Firm Name is under process with ICAI. AT AGM held on 15.11.2014.CA Firm Name Approves on 28.11.14. Can such Co. Appoint him as Statutory Auditor.

If Yes Than What are the Obligation by Co. and Auditor regarding his appointment.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 December 2014 According to my view, you can't appoint him as statutory auditor.

Further note that first auditor need to be appointed within 30 days of incorporation by Board of Direcotrs.

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Querist)
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22 December 2014 Sir,

I am taking about the Auditor who has to be appiointed as per section 139(1) in AGM i.e next auditor to First Auditor

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 December 2014 You can't appoint auditor at AGM as you need eligibility and consent letter from the proposed auditor before appointment. On the basis of that Board recommends the name of the auditor to the members for appointment.

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Querist)
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22 December 2014 Sir Co. AGM is on 15.11.2014. Directors meet the Auditor on 10.11.2014 who hold COP but whose firm name approves on 28.11.2014.

Auditor give his consent and certificate before 15.11.14. In his consent letter he informs the board that His firm name is under process with ICAI

Now can such auditor be appointed as auditor.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 December 2014 it is not possible
Only after approval of firm name, application for registration of firm name will be made.

Mentioning the firm registration number in the audit reports and resolution passed by the company for appointment of statutory auditor is mandatory

Further for filing ROC forms relating to appointment of auditor, you have to mention firm name and registration number

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Querist)
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22 December 2014 Thanks a lot Sir for Information. But Sir can we file ADT-1 after the name registered with Late Fees.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 December 2014 you can file ADT1 with late fee

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