Rotation of auditors
This query is : Resolved
10 February 2016
Hi Experts,
Can anyone please clarify the sentence "Break in the term for a continuous period of 5 years will be considered as fulfillment of criteria of rotation"?? if one auditor has retired from office after holding 2 years and took a gap of 2 years and again appointed for the same company for a period of 3 years. isn't cooling period of 5 years apply??
Can anyone please clarify the sentence "Break in the term for a continuous period of 5 years will be considered as fulfillment of criteria of rotation"?? if one auditor has retired from office after holding 2 years and took a gap of 2 years and again appointed for the same company for a period of 3 years. isn't cooling period of 5 years apply??
12 February 2016
Ms. Sweta,
Auditor cant be appoint for the period more then or less then 5 year at the time of appointment. So you cant appoint him as auditor for 3 year in any situation.
No breakdown for 2 year will not fulfil the criteria of cooling period. Cooling period depend upon the term of not the no. of years.
Auditor cant be appoint for the period more then or less then 5 year at the time of appointment. So you cant appoint him as auditor for 3 year in any situation.
No breakdown for 2 year will not fulfil the criteria of cooling period. Cooling period depend upon the term of not the no. of years.
Message likes :
1 times
12 February 2016
Thank you sir, Can you please interpret in detail "Break in the term of continuous period of 5 years will be considered as fulfillment of criteria of rotation"
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- CREDIT NOTES WITHOUT GST
- Eway bill generation from place other than registeted
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
