can we appoint statutory
auditor in a public company less than 5 years
10 Replies
Deeksha Uniyal
(31 Points)
Replied 04 September 2017
yes , an auditor can be appointed for a term which is less than 5 . As per the Act, 5 years is the maximum period of a term , a term can be of 1,2,3,4 years. Appointing for more than 5 years is prohibited bit not less than 5. Many of the subsidary companies of our holding company have appointed auditor for a term of 3 years.
Deeksha Uniyal
(31 Points)
Replied 04 September 2017
the interpretation differs from person to person , more than 5 years in a term is prohibited but not less than 5 years because so many companies appoints auditor for 3 years including the subsidary and associate of companies in which i m working in.
Ashwin Kumar
(1234 Points)
Replied 04 September 2017
@ Deeksha uniyal..... You can't appoint a STATUTORY AUDITOR for a period less than dub be years
Ashwin Kumar
(1234 Points)
Replied 04 September 2017
@ Deeksha uniyal..... You can't appoint a STATUTORY AUDITOR for a period less than five years
Ashwin Kumar
(1234 Points)
Replied 04 September 2017
@ Deeksha uniyal..... You can't appoint a STATUTORY AUDITOR for a period less than five years
Ashwin Kumar
(1234 Points)
Replied 04 September 2017
@ Deeksha uniyal..... You can't appoint a STATUTORY AUDITOR for a period less than dub be years
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(8258 Points)
Replied 04 September 2017
- Every auditor (except first auditor) including LLP, shall be automatically appointed for a tenure of five years with/ without re-appointment in the subsequent AGMs.
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