Statutory audit

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nishit jain

nishit jain (Querist)
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12 September 2014 who employee the statutory auditor ........please reply fast ........ .......

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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12 September 2014 Dear Nishit,

Not getting your question, can you please elaborate the same.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

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25 July 2025 The **statutory auditor** of a company is **appointed by the shareholders** of the company in the Annual General Meeting (AGM).

* For **private companies**, the shareholders (members) appoint the statutory auditor.
* For **public companies**, the statutory auditor is also appointed by the shareholders in the AGM.

**Key points:**

* The company *employs* the statutory auditor, but the appointment is made through shareholder approval.
* The auditor is independent and acts on behalf of shareholders to audit the company’s financial statements.
* The appointment is usually for one financial year, and the auditor holds office until the conclusion of the next AGM.

If the company is newly incorporated, the first auditor can be appointed by the Board of Directors within 30 days of incorporation. If the Board fails, the members appoint within the next 90 days.

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So in short: **Statutory auditors are appointed by the company’s shareholders in the AGM.**

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