Hi
Maximum tenure of an individual auditor is 5 years and 10 years in case of firm.
My question is if X was an auditor of ABC Ltd for 5 years and later on he joined one audit firm ZYX associate, So can ABC Ltd company appoint ZYX associate as an auditor ?
Thanks in advance..
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Appointment of an Auditor
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No as per section 139 (2) if an retiring auditor whose term has completed joins another firm in order to get re appointment in same company under new firm name , the new firm can't be appointed because incoming partner is disqualified hence firm will also get disqualified.
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