Appointment of Auditor for Pvt Ltd Company

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2010 Pls tell is it mandatory for every pvt ltd company to appoint a statutory audit and what is the cretirion for appointment of a auditor.

Pls suggest

Ajay Mishra

Ajay Mishra (Expert)

06 September 2010 Dear Friend

Section 224 of the Companies Act, 1956 is applicable to all company, whether it is private company or public company.

Regards

Ankur Garg

Ankur Garg (Expert)

06 September 2010 Appointment of statutory auditor is must for every company.

Qualification for being appointed as statutory auditor:

Person must be a member of ICAI...In other words he should be a Chartered Accountant with membership of ICAI.

Kindly refer section 224 and 226.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2010 sir pls guide in what cases appointment of auditor is not applicable to a company.

Also if tax audit is not applicable to the company then also will it require to appoint a auditor

Ankur Garg

Ankur Garg (Expert)

06 September 2010 Dear Friend there is no escape route. You have to appoint an auditor to avoid violation of section 224.

Regards

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