Auditor Appointment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 Audit of a AOP(RWA) was being done by one auditor ,and at the time of appointment or thereafter there was no reappointment was being done in any meeting.Now if new auditor is being appointed by that AOP,what are the formailites for the AOP & new Auditor.New Auditor need to be appointed at EGM or AGM or can be appointed at any Governing body meeting.Also in case there is no reappointment of auditor is being done of the previous auditor ,still new Auditor has to take NOC from the previous one.

Ankur Garg

Ankur Garg (Expert)
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27 August 2010 For appointment of auditor for AOP there is no need to follow the provisions of companies act, 1956.

You are requested to check the provisions of by laws of AOP.

As per my opinion you may appoint through Governing body meeting.

Views of other experts solicited.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2010 But regarding NOC from previous Auditor as per ICAI regulation,means in case there is no reappointment being done ,still should take NOC?

Ankur Garg

Ankur Garg (Expert)
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27 August 2010 As per my understanding we must read the ICAI' noc provisions in the context of company audit, bcoz in companies act appointment of auditor is a legal requirement.

However you may go for previous auditor's NOC. It is no doubt a good practice.

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