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Auditors remuneration

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(Querist)
21 June 2012 Dear sir/Madam,
How the auditors remuneration is calculated is there any provisions in COMPANIES ACT regarding remuneration.Is auditors remuneration depends upon the turnover or else on any value please clarify me
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
21 June 2012 COMPANIES ACT SAYING ONLY HOW TO DISCLOSE AUDITORS REMUNERATION IN P/L ACCOUNT.

AUDITOR REMUNERATION IS NOT DEPEND ON SALE OR TURNOVER OR OTHER ELSE.NOTHING FIXED IN ACT.
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Ajay Mishra

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Ajay Mishra (Expert)
21 June 2012 Hi

I agree with expert, the auditor remuneration will be decided by the Board of the Company. Their is no fixed criteria for deciding remuneration of auditor. It will depend on mutual consent and such remuneration will be disclosed in Balance sheet of the Company.



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