audit rotation

The concept of rotation of auditors applies to
 Every Listed companies
 All unlisted public companies having paid up share capital of 10 Cr or more
 All private limited companies having paid up share capital of 50 Cr or more
 All companies(either Public or Private) having paid up share capital of below
threshold limit mentioned in above, but having public borrowings from financial
institutions, banks or public deposits of rupees 50 Cr or more.
The concept of rotation of auditors Doesnot applies to OPC and small companies

As per Section 139, Read with Rule 5 of Companies Auditor Rules, Rotation of Auditor shall be applicable on following Companies

All listed Companies

All unlisted Companies having paid up share capital of 10 crore or more

All private Companies having paid up share capital of Rupees 50 crore or more 

And All Companies having borrowings from bank and public financial institution exceeding 50 crore as per the last audited balance sheet

thanks alot both of..

your welcome

What about applicability on Government companies?

 

In Govt companies CAG Appoint auditor everyyear?

Does it need to change the auditor after 5 years

For Government Audits CAG Appoints auditors on a yearly basis.

The concept of rotation of auditors applies to 
 Every Listed companies 
 All unlisted public companies having paid up share capital of 10 Cr or more 
 All private limited companies having paid up share capital of 50 Cr or more 
 All companies(either Public or Private) having paid up share capital of below 
threshold limit mentioned in above, but having public borrowings from financial 
institutions, banks or public deposits of rupees 50 Cr or more. 

Listed Co (both equity or debt instrument      private / public) 

Unlisted Co having paid up share capital(both Preference and Equity to be counted) of 10 Cr or more

All private Companies - share  capital of Rupees 50 crore or more   

Other Companies - borrowings exceeding 50 crore as per the last audited balance sheet