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Rotation of Auditor

Dhruv Shah (Article Student) (357 Points)

08 October 2019

Can an Audit firm be re-appointed after one year from the expiry of his one term of consecutive five years?

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Bharat Bohra (306 Points)
Replied 20 October 2019

If it's Audit firm then yes or else No
as per sec 139, of companies act 2013, an "INDIVIDUAL AUDITOR" who has completed his term shall not be eligible for reappointment as auditor in same co for 5 years from the completion of his term

and if it's "AUDIT FIRM" then an audit firm which has completed its term shall not be eligible for reappointment as auditor in the same co for 5 years from the completion of its term..

now since you have mentioned audit firm then yes an audit firm is eligible for reappointment