Appointment and rotation of auditor

582 views 2 replies

Dear all,

As per Section 139 of The Companies Act 2013:

1. An individual auditor shall not be appointed by a company for more than one term of five consecutive years.

2. An Audit firm shall not be appointed by a company for more than two terms of five consecutive years.

Can the same partner on behalf of audit firm sign the financial statements of a company for two terms of five consecutive years or another partner is required to sign after one term of five years...??

Replies (2)
same partner can sign for 2nd term also. Since in case of firm the auditor is Firm itself.
Thanks for your reply Dhanesh.

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