First auditor appointment

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CA Sandip Akde (Querist)

17 March 2016 Dear Sir,

There is one Private Limited Company incorporated on 24/01/2014. So it need to appoint Fist Auditor.
Mt question is what period will be covered by First Auditor.
Is it 24/01/2014 to 31/03/2015 or 01/04/2014 to 31/03/2015.

What is the provision for the same. ?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

17 March 2016 Has you have to hold First AGM within period of 9 months from the date of closing of the First Financial year of the Company from the date of closing first financial year of the Company. The period is Covered is Closer of First Financial Year if you closed 01/01/2014 to 31/03/2015 . Than The Appointment will be concluded Till the conclusion of First AGM.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

17 March 2016 1. Appointment of first auditor has to be done in the first board meeting to be held not later than 30 days from the date of incorporation. Appointment has to be done as per Companies Act,1956.

2. Presuming that company held 1st board meeting on or before 23.2.2014, the auditor has to file e-form 23B for the appointment.

3. The term of office of the 1st auditor is from the date of 1st Board meeting till the date of the 1st Annual General meeting,

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