Preparation of accounts

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RAJU MAL BARDIA (Querist)
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20 November 2012 Company incorporated in Dec,11 and want to prepare its' first balance sheet as at 31.03.13 i e for 16 months period.Want to appoint its first auditor in curtrent date for the period from Dec,11 to march,13 a/cs.Can a co.preapre it's a/cs for period of 16 months for that any permisison reqd from any body in what form.what kind of resolution reqd.ordinary or special.for appointment of auditor what kind of resolution and meeting reqd.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 November 2012 The period covered by the financial statements may exceed 12 months but is should not exceed 15 months.

If it exceeds 15 months then approval of registrar is required.

In this case, since the company wants to prepare its statements for 16 months it has to obtain permission from the registrar.

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