Appointment of First Auditor
This query is : Resolved
Guest
Guest
(Querist)
10 May 2010
Dear Sir
As per section 224(5) appointment of first auditor is to be done by Board Of Directors.
My question is that whether Board of Directors are required to pass resolution in Board Meeting or they can do so by Circulation of resolution also.
With Warm Regards.
Kunal Agrawal
+91-99295-03735
kunal.agrawal@icai.org
As per section 224(5) appointment of first auditor is to be done by Board Of Directors.
My question is that whether Board of Directors are required to pass resolution in Board Meeting or they can do so by Circulation of resolution also.
With Warm Regards.
Kunal Agrawal
+91-99295-03735
kunal.agrawal@icai.org
10 May 2010
A newly formed company is required to hold first board meeting to conduct certain essentails business like opening of account, appointing personnel for key job,validating the pre incorporation contracts etc. Hence it is essentail to have board meeting instead of circulating resolution. Circulation resolution can be passed only for urgent matters that needs to authenticated at short duration but regular board meeting could not be held in such short time.
10 May 2010
No my friend circular resolution is strictly not allowed in the case of section 224(5).
You have to hold a BM to appoint first auditor. Thanks
You have to hold a BM to appoint first auditor. Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
