What are the formalities for acceptance as Stat Auditor - in the case of 1st Auditor and in the case of the 2nd year?
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1st auditor
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Manner of Appointment of First Auditor (Section 224(5))
- Appointed by Board.
- Must be appointed within 1 Month of Registration of company.
- Appointment shall be made in General Meeting by an Ordinary Resolution if the Board fails to appoint the first auditor within 1Month of Registration of Companies.
- The Auditor cannot be appointed through MOA and AOA which pertains it to be void.
| FIRST AUDITOR | SUBSEQUENT AUDITOR |
| The company need not intimate to the Auditor regarding his appointment by way of Notice. | The company shall give notice of appointment or reappointment to the auditor which shall be given within 7 days of appointment or reappointment in the Annual General Meeting. |
| The first Auditor, not required to inform the registrar as to whether they have accepted the appointment or not. | The Auditor shall give the notice to the registrar which shall be given within 30 days of receipt of notice of appointment or reappointment from the company and the notice shall state as to whether he has accepted or refused the appointment. |
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