Gargi Ranade (CS) (410 Points)
24 June 2014Dear all,
Our existing auditors were appointed from FY 2005-06 since then same partner of the same firm is auditing & signing the financials of the company.
After reading the rules of the Chapter 10 , I am not able to understand whether we can appoint the same firm and auditor for the FY 2014-15
I think we can reappoint the audit firm for this year , please clarify .
AMIT MISHRA
(Legal Professional)
(393 Points)
Replied 24 June 2014
Hi Gargi,
Certainly yes you can appoint them as auditors for FY 2014-15. Further you may also see if the auditor rotation is applicable to your company or not, As the rules are applicable to listed companies, unlisted private companies with paid up share capital of 10 crore, a private company with a paid up capital of 20 cro re and a company with public borrowings from financial intitutions or deposits of 50 crore or more.
Thanks & Regards
Amit Mishra
CAclubindia
