Appointment of auditor
This query is : Resolved
28 March 2016
Dear Exerts,
XYZ is a Partnership Firm Auditor of a Listed Company for a period more than 15 years, but due to provisions of Rotation of Auditors XYZ will not be eligible to to reappointed for 5 Years.
Mr. Z a non signing of XYZ Firm resigned and Joined a new CA Firm ABC and ABC appointed as Auditor of That listed Company.
My question is that whether ABC can be appointed as Auditor of that Listed Company whose earlier auditor was XYZ ?
Whether Mr. Z who resigned my XYZ can sign Audit report of that listed company on behalf of New CA Firm ABC?
XYZ is a Partnership Firm Auditor of a Listed Company for a period more than 15 years, but due to provisions of Rotation of Auditors XYZ will not be eligible to to reappointed for 5 Years.
Mr. Z a non signing of XYZ Firm resigned and Joined a new CA Firm ABC and ABC appointed as Auditor of That listed Company.
My question is that whether ABC can be appointed as Auditor of that Listed Company whose earlier auditor was XYZ ?
Whether Mr. Z who resigned my XYZ can sign Audit report of that listed company on behalf of New CA Firm ABC?
28 March 2016
Karishma,
Section 139 of Companies Act, 2013 is not specifically restrict for above case. And also there is no such clarification for the same from MCA. So in our view it is permissible and there is no such specific restriction in any other law.
Hence Mr. Z can sign the Audit Report.
Section 139 of Companies Act, 2013 is not specifically restrict for above case. And also there is no such clarification for the same from MCA. So in our view it is permissible and there is no such specific restriction in any other law.
Hence Mr. Z can sign the Audit Report.
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