Auditor's appointment

Yes auditor can be appointed for one year

Yes
certainly..
But there are specific guidelines of ICAI.

APPOINTMENT OF AUDITOR

As per section 139(1) every company shall appoint at its 1st AGM an auditor of the company who shall hold office from the conclusion of that meeting till the conclusion of its 6th AGM.

Tenure subject to ratification :- The tenure of 5 consecutive years is subject to ratification by shareholders at every AGM.

Company CAN NOT appoint auditor for ONE YEAR.

it will be as per aforesaid provision.

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What are specific guidelines of ICAI .. ???? whatever - share it ?????

Yes an auditor can be appointed for 1 year

Mr. Ashley , under which section ??