Appointment of auditors
This query is : Resolved
16 December 2014
Is it mandatory to appoint statutory auditors for a period of Five years as per New company laws.
Please advise
Please advise
16 December 2014
yes for all compnaies its mandatory.............
16 December 2014
Thanx Tushar
Actually some qualified CA in my office said that it is not mandatory to appoint for five years and mention the term " ensuing AGM to Next AGM" but i object and say it would for a period of Five years. But they said you are wrong.
anyone here pls advise/comment to prove i am not wrong.
Actually some qualified CA in my office said that it is not mandatory to appoint for five years and mention the term " ensuing AGM to Next AGM" but i object and say it would for a period of Five years. But they said you are wrong.
anyone here pls advise/comment to prove i am not wrong.
16 December 2014
5 years is max for individual but every agm they need to be again appointed via a shareholders resolution that is the exact meaning.
16 December 2014
The appointment of auditors shall be made for a 5 year term subject to ratification at every AGM.
A transition period of 3 years has been provided to the existing companies to comply with the requirements of mandatory rotation of auditors, if applicable.
Hence some companies to whom rotation aprovisions is applicable, are taking transition period option of 3 years and appointing auditor for one year
A transition period of 3 years has been provided to the existing companies to comply with the requirements of mandatory rotation of auditors, if applicable.
Hence some companies to whom rotation aprovisions is applicable, are taking transition period option of 3 years and appointing auditor for one year
16 December 2014
Can you please confirm the which type of companies applicable for rotation provision.
17 December 2014
Listed company or all unlisted public companies having paid up share capital of Rs. 10 crore or more, all private limited companies having paid up share capital of Rs. 20 crore or more, all companies having public borrowings from financial institutions, banks or public deposits of Rs. 50 fifty crores or more
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