Query regarding appointment of auditor.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2015
Dear professional,
As per CA 2013,
with reference to small company
can company appoint auditor till the conclusion of next AGM ?
or
In a casual vacancy new auditor appoint till the conclusion of next agm ?
is it mandatory to appoint auditor for 5 year ?
IF company does not want to appoint for 5 year than ?
Thanking you.
As per CA 2013,
with reference to small company
can company appoint auditor till the conclusion of next AGM ?
or
In a casual vacancy new auditor appoint till the conclusion of next agm ?
is it mandatory to appoint auditor for 5 year ?
IF company does not want to appoint for 5 year than ?
Thanking you.
CS Mitesh Mehta
(Expert)
27 July 2015
Yes it is mandatory to appoint auditor for 5 years subject to ratification at every AGM. (Section 139 of the Companies Act 2013)
If any of the provisions of sections 139 to 146 (both inclusive) is contravened, the company shall be punishable
with fine which shall not be less than Rs. 25,000 but which may extend to Rs. 5,00,000 and every officer in default
shall be punishable with imprisonment for a term which may extend to 1 year or with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 1,00,000 or with both.
If any of the provisions of sections 139 to 146 (both inclusive) is contravened, the company shall be punishable
with fine which shall not be less than Rs. 25,000 but which may extend to Rs. 5,00,000 and every officer in default
shall be punishable with imprisonment for a term which may extend to 1 year or with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 1,00,000 or with both.
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