Corporate law
Querist : Anonymous
having public borrowings from financial institutions, banks or public deposits of Rs. 50 fifty crores or more shall not appoint or re-appoint an individual as auditor for more than one term of 5 consecutive Years; and an audit firm as auditor for more than two terms of 5 consecutive years. These auditor (either individual/audit firm) can be re-appointed
after cooling off period of 5 years. Three years transition period will be given to comply this requirement.
No audit firm shall be appointed as auditor of the company for a period of five years, if same firm presently having a common partner(s)to the previous audit firm, whose tenure has expired in a company
immediately preceding the financial year.
The right of the company to remove the auditor or the right of the auditor to resign from such office of the company is not affected by this sub-section. Thus, an auditor can resign or be removed by the
shareholders before completion of his term as discussed above. The firm shall include a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008.
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
please specify i am confused
Querist : Anonymous
pls tell me i getting confuse about online pan application how to find AO codes i cant understand
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