Statutory audit
This query is : Resolved
nishit jain
(Querist)
12 September 2014
who employee the statutory auditor ........please reply fast ........ .......
12 September 2014
Dear Nishit,
Not getting your question, can you please elaborate the same.
Not getting your question, can you please elaborate the same.
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.
---
So in short: **Statutory auditors are appointed by the company’s shareholders in the 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.
---
So in short: **Statutory auditors are appointed by the company’s shareholders in the AGM.**
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