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Auditor appointment
can a proprietary concern be appointed as the auditor of a company?
Replies (4)
Yes for a consecutive period of 5 years
but in the provision there is not any specifications about sole proprietor
In the provisions there is no disqualification also regarding appointment of sole proprietor na
139. Appointment of auditors.— (1) Subject to the provisions of this Chapter, every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting and the manner and procedure of selection of auditors by the members of the company at such meeting shall be such as may be prescribed
Individual means sole proprietorship only.
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