Casual vacancy of auditor
This query is : Resolved
29 January 2015
Dear Sir/Madam
If the retiring auditor has expressed his unwillingness to be reappointed in the next AGM whether it will be treated as casual vacancy (Resignation). If it is a casual vacancy what are the procedure to be followed in filing necessary forms to ROC.
If the retiring auditor has expressed his unwillingness to be reappointed in the next AGM whether it will be treated as casual vacancy (Resignation). If it is a casual vacancy what are the procedure to be followed in filing necessary forms to ROC.
29 January 2015
Yes.
Procedure – where casual vacancy arises due to resignation of existing auditor
1. Intimate the proposed auditor(s) regarding the intention of appointing him/it as auditor and ask whether he/ it is eligible and not disqualified to be appointed as auditor of the company.
2. Obtain consent & certificate from auditor.
3. If Audit Committee required to be constituted under section 177, then obtain its recommendation (Section 139(11)).
4. Call Board meeting for the purpose of following:-
• Appointment of auditor in casual vacancy.
• Considering that the qualification & experience are commensurate with the size & operations of the company.
• Recommending the members to approve the appointment.
• Calling of EGM(to be held within 3 months from date of Board meeting).
5. Intimate the Auditor and file with ROC form ADT-1within 15 days of EGM(since the appointment is not final until approval of members).
As per section 140(2) the Auditor who has resigned from the company shall file within a period of 30 days from the date of resignation, a statement in the prescribed form with the company and ROC indicating the reasons and other facts as may be relevant with regard to his resignation in form ADT-3
Procedure – where casual vacancy arises due to resignation of existing auditor
1. Intimate the proposed auditor(s) regarding the intention of appointing him/it as auditor and ask whether he/ it is eligible and not disqualified to be appointed as auditor of the company.
2. Obtain consent & certificate from auditor.
3. If Audit Committee required to be constituted under section 177, then obtain its recommendation (Section 139(11)).
4. Call Board meeting for the purpose of following:-
• Appointment of auditor in casual vacancy.
• Considering that the qualification & experience are commensurate with the size & operations of the company.
• Recommending the members to approve the appointment.
• Calling of EGM(to be held within 3 months from date of Board meeting).
5. Intimate the Auditor and file with ROC form ADT-1within 15 days of EGM(since the appointment is not final until approval of members).
As per section 140(2) the Auditor who has resigned from the company shall file within a period of 30 days from the date of resignation, a statement in the prescribed form with the company and ROC indicating the reasons and other facts as may be relevant with regard to his resignation in form ADT-3
29 January 2015
Incase the case of casual vacancy other than the resignation ie, unwillingness of the present auditor from being reappointed what are the forms
29 January 2015
it amounts to resignation only.
29 January 2015
thanks for the information
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