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appointment of first auditor

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(Querist)
28 February 2009 Whether there is any time limit for the appointment of first auditor before the 1st AGM of the Pvt Ltd or Public Ltd Co.
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Simant Prakash

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Simant Prakash (Expert)
28 February 2009 first auditors should generally be appointed within one month of incorporation,in the board meeting. If not done then in general meeting(EGM),but definately before the first AGM.

For public company, this has to be done within five months of incorporation, since a statutory report has to be submitted as per Sec 165
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