Auditors' appointment

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Venkatesh Dangeti (Querist)
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18 July 2017 Experts,
Suppose my firm was appointed by BOD as first auditor
Now, Whether we eligible for re-appointment for 5 years or 4 years?

Pratik Shah

Pratik Shah (Expert)
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19 July 2017 Your appointment will be done for further five years i.e. from the date of first AGM till the date of sixth AGM

Venkatesh Dangeti

Venkatesh Dangeti (Querist)
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19 July 2017 sir, why dont we consider the first year??

Pratik Shah

Pratik Shah (Expert)
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21 July 2017 Please refer Section 139(6). It clearly says that the First Auditor's term is upto the date of First AGM. and as per Section 139(1), you need to appoint Auditor for Five years i.e. from the date of First AGM to Sixth AGM.

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