Re: appointment of auditors

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2014 Dear Sir,

Re: Appointment of Auditors

1. Individiual auditor means Proprietory firm ?
2. A small company has appointed a Proprietory firm since 2008-09 , is it the retiring auditor is to be appointed for 3 years ?
3. As the rotation is not applicable to small companies, shall the same auditor can be re-appointed as was being done earlier. In that case can we write in the AGM Notice (Y.E.31.03.2014) : To appoint Auditors and fix their remuneration.
Thanks

Sooraj Nandan

Sooraj Nandan (Expert)

31 December 2014 1. Yes

2. The appointment has to be made for a period of 5 years. 3year transitional period is applicable to listed companies and class of companies only..

3. Appoint the auditor of 5 years... subject to ratification at each ensuing AGM's... You can go ahead with your AGM notice... but next year onwards make sure to change the wordings to "ratification" instead of "appointment".

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

31 December 2014 You have to attach the copy of resolution passed at AGM with e-Form ADT 1.

At AGM pass resolution for appointment of auditor for 5 year term subject to ratification at every AGM

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