If we appoint auditor for a period of five years in AGM of 2014 then also it is required to file form ADT 1 every year or 1 form is sufficient for five years.
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Auditor appointment
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As per Sec 139 of Cos Act'13, ADT 1 is required to be filed every year on every re-appointment of Auditor in AGM..
Is co required to reappoint auditor every agm.in 2014 co appoint auditor dor 5 year.
Hey Pawan,
Literal interpretation of section 139(1) calls for filing ADT 1 only at the time of appointment.Though there is no ambuiguity in the literal interpretation and for better undestanding if we refer ADT 1, form requires to fill the number of financial years for which Auditor is to be appointed and also to mention the financial years specifically for which auditor is to be appointed.
If all the financial years for which auditor is to be appointed is clearly mentioned while filing ADT 1 on appointment there is no point of informing the ROC on every ratification. Main intent is fulfilled. hence ADT 1 is to filed at the time of appointment and that too for maximum tenure of five years.
Thanks
Dear All
If private company in the notice of AGM shown re-appointment of the Existing auditor , but did not File form ADT 1 for auditor reapppointment for F.y 14-15 and Now company need to appoint another auditor in place of existing auditor ,what is the procedure to be followed in such a situation.
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