Auditor's appointment in casual vacancy
This query is : Resolved
08 October 2022
Hi Friends,
The statutory auditors of a Pvt Ltd company resigned on 25th Sep 22 before doing audit for FY 2021-22. How to proceed to fill the casual vacancy to fill this appointment.
can anyone please help.
Thanks
P.C. Joshi
The statutory auditors of a Pvt Ltd company resigned on 25th Sep 22 before doing audit for FY 2021-22. How to proceed to fill the casual vacancy to fill this appointment.
can anyone please help.
Thanks
P.C. Joshi
06 July 2024
To proceed with filling the casual vacancy of the statutory auditors for the Pvt Ltd company after their resignation before conducting the audit for FY 2021-22, follow these steps:
1. **Board Meeting:** Convene a board meeting of the company to accept the resignation of the statutory auditors and take note of the casual vacancy created by their resignation.
2. **Appointment of New Auditors:** In the same board meeting, appoint new auditors to fill the casual vacancy. Here’s how you can do it:
- Discuss and decide on potential audit firms or auditors.
- Obtain consent and eligibility certificate from the proposed auditors as per Section 141 of the Companies Act, 2013.
- Pass a resolution to appoint the new auditors to fill the casual vacancy until the conclusion of the next Annual General Meeting (AGM).
3. **Intimation to New Auditors:** Once appointed, immediately inform the new auditors about their appointment. Provide them with necessary documents, access to financial records, and any other information required to conduct the audit for FY 2021-22.
4. **Filing Form ADT-1:** Within 15 days of the appointment of new auditors, file Form ADT-1 with the Registrar of Companies (ROC). This form notifies the ROC about the appointment of auditors to fill the casual vacancy. Ensure all details are accurately filled, including the date of appointment and resignation of previous auditors.
5. **Audit Completion:** Coordinate with the newly appointed auditors to ensure that they complete the audit for FY 2021-22 within the stipulated time frame.
6. **Reporting to Shareholders:** Inform the shareholders about the change in auditors due to the resignation and subsequent appointment of new auditors through the AGM.
By following these steps, you can efficiently fill the casual vacancy created by the resignation of the statutory auditors and ensure that the audit process for FY 2021-22 proceeds smoothly and in compliance with regulatory requirements.
1. **Board Meeting:** Convene a board meeting of the company to accept the resignation of the statutory auditors and take note of the casual vacancy created by their resignation.
2. **Appointment of New Auditors:** In the same board meeting, appoint new auditors to fill the casual vacancy. Here’s how you can do it:
- Discuss and decide on potential audit firms or auditors.
- Obtain consent and eligibility certificate from the proposed auditors as per Section 141 of the Companies Act, 2013.
- Pass a resolution to appoint the new auditors to fill the casual vacancy until the conclusion of the next Annual General Meeting (AGM).
3. **Intimation to New Auditors:** Once appointed, immediately inform the new auditors about their appointment. Provide them with necessary documents, access to financial records, and any other information required to conduct the audit for FY 2021-22.
4. **Filing Form ADT-1:** Within 15 days of the appointment of new auditors, file Form ADT-1 with the Registrar of Companies (ROC). This form notifies the ROC about the appointment of auditors to fill the casual vacancy. Ensure all details are accurately filled, including the date of appointment and resignation of previous auditors.
5. **Audit Completion:** Coordinate with the newly appointed auditors to ensure that they complete the audit for FY 2021-22 within the stipulated time frame.
6. **Reporting to Shareholders:** Inform the shareholders about the change in auditors due to the resignation and subsequent appointment of new auditors through the AGM.
By following these steps, you can efficiently fill the casual vacancy created by the resignation of the statutory auditors and ensure that the audit process for FY 2021-22 proceeds smoothly and in compliance with regulatory requirements.
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