Form 23b first auditors

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CA Parag Jani (Querist)
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07 August 2012 Dear Experts,

One Pvt Ltd. incorporated in Nov-2011, did not convene any Board Meeting. The Directors were not aware of Company Law Provisions & no such records were kept either.

The Director now approaches me for auditing their books of accounts. My question is -
(1) If i show as First Board Meeting convened during 3 months time limit, & get myself appointed as statutory auditor, what should be the date of intimation for such appointment? For example, if they appoint me on 31-03-2012, then do I need to file E-Form 23B on/before 07-05-2012 or I can file even now, attaching a back dated intimation?

(2) What shall be the liability of auditor in case he fails to file Form 23B withing the Statutory Time Limit as per Sec.224(1B)? Asking from ICAI/MCA Disciplinary Action Viewpoint.

(3) If i take a recent dated intimation for appointment, then will pvt.ltd co face any actions from ROC for delay in intimating to the First Auditors?

Plz advise what should be done.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 August 2012 i) First auditors are appointed by the board of directors in a meeting held with in one month from the date of incorporation. Ref :- section 224(5). E-form 23B filing is not applicable to 1st auditors.
ii) Penalty u/s629a can be imposed which the ROC seldom exercises.
iii) Can't do so since it violates Companies Act,1956.

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