Tendering is the normal procedure for appointment of any consultant/concurrent auditor in 100% Public sector undertaking. In case of appointment of secretarial auditor in PSU, as area of audit is very limited and remuneration payable to secretarial auditor might also be not so high, kindly advise the other options available for appointment of secretarial auditor in PSU other than tendering.
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Appointment of secretarial auditors in psu
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New Act has not exempted Govt. -Companies from any provisions of the Act.Accordingly,all the provisions are equally applicable to it.Further,there is an additional requirements of checking DPE Guidelines on corporate Governance for PSUs.Auditors in such companies are normally appointed through open tendering/limited tendering/nomination basis.Fee depends on size of the organisations.Because of engagements mostly on open tendering basis,fees are normally very low compared to normal market rate.However,reputation of PcS increase a lot if they have good number of PSU clients.
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