whether for secreterial audit & internal audit , auditor can be apointed for more than 1 year at a time .
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an auditor is appointed at the GM of the company. and a GM is conducted for the period of one financial year only.
however you can say that when in an GM no auditor is appointed, then the existing auditor shall continue to operate as the auditor of the company.
REFER TO SEC 130(9), 139(10), 139(11) OF THE COMPANIES ACT
however you can say that when in an GM no auditor is appointed, then the existing auditor shall continue to operate as the auditor of the company.
REFER TO SEC 130(9), 139(10), 139(11) OF THE COMPANIES ACT
@ Ankit he is asking for internal auditor and secretarial audit... And not statutory auditor... Both can't be appointed for more than one year... However statutory auditor can be appointed for the term of 5 yrs or 10 yrs as the case may be... However in every AGm Ratification is done by members
Intwrnal auditor governed under the provisions of 138 and secretarial audit under section 204 of company act 2013
Section 139 not applicable in this case
thanks divakar ji
As per Section 138(2), the scope, function and periodicity of Internal Auditor has neither been defined in Companies Act nor specifically prescribed in the Rules. Moreover if he is appointed as the employee of the company then its obvious his tenure would be more than 1 year by default..
@ Manjula agree... Scope, functioning, periodicity and methodology for conducting the internal audit decided by audit committee...
Refer rule 13(2) of the companies(Accounts) rules 2014
In case of Secretarial Auditor, initially they are appointed for a tenure of 1 year, thereafter as per the decision of the Audit Committee/Board...This again is not specified..
sorry for that
in case of internal auditor companies act, 2013 does not provide any such point.
this means auditor can b appointed
in case of internal auditor companies act, 2013 does not provide any such point.
this means auditor can b appointed
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