audit


(Guest)

 

After the incorporation of a private limited company, its Board of Directors, primarily busy in proper functioning of the company, suddenly discovered after the lapse of about 6 months that the company requires to appoint an auditor. What should Board do?

 

Sol.: The Board should arrange to convene a general meeting and appoint the first auditor in that meeting since the Board has failed to appoint the auditor within 1 month of incorporation.