Appointment of auditor

Save Share

This query is : Open

Shobhit Jain (Querist)

05 September 2019 What is the penalty for non-intimation for the appointment of auditor by a private company?
AND
What is the penalty if a private company failed to appoint an auditor within relevant time limit?

Rajesh Kumar Verma

Rajesh Kumar Verma (Expert)

07 September 2019 @ first query, every company shall file a notice of appointment of individual or a firm as an auditor with the Registrar within fifteen days of meeting in which auditor is appointed.
@ both query, In case of failure in both the cases as you mentioned, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees, or with both.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now