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First Auditor

E Narasimhan (CA Final Student) (37 Points)

12 January 2011

1. When the FIRST Auditor of a Pvt. Ltd/Sec 25 Company are appointed is it necessary to intimate the ROC..?

2. If No, then what would you fill in e-from 23AC when you are filing the first balance sheet of the company in the field "SRN of Form 23B" under Point 10. details of Auditor.

3. Also since this being the first year, the previous year figures are nil, what should done as against "Part B" of the same form for filling the PY figures.

Thank You

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3 Replies

CA Mohit Thareja (Assistant Manager-Accounts & Finance) (1117 Points)
Replied 12 January 2011

no intimation is required to give to ROC and SRN no. is not required to be fill up.

p/y figures should be filed as 0.

udit sharma (Company Secretary) (2303 Points)
Replied 12 January 2011

Hi..

The BOD of the Company is required to appoint the first Statutory Auditor at the first Board Meeting of the Company which must be held within 30 days from the date of registration(incorporation) of the Company.

As per the provisions of section 224(1A) of the Companies Act, 1956 only a Statutory Auditor appointed as such is required to file Form 23B with the ROC.

No intimation is required to be given by the First Statutory Auditor.

2. As regards ur second query, for the first financial year of the Company, you will be convening an AGM of the Company within 18 months from the date of incorporation. At the AGM,interalia, u will be appointing a Statutory Auditor and deciding its remuneration. Within 7 days from the date of appointment, you will have to give an intimation to the Auditor so appointed along with a Certified True Copy of the resolution passed at the AGM of the Company pertaining to his/its appointment. Within 30 days from the date of receipt of intimation from the Company, the Auditor is required to initmate his/its appointment in prescribed Form 23B to the ROC.

Once he uploads Form 23B, SRN will be generated which has to be entered while Uploading Form 23AC.Form 23AC & 23ACA have to be uploaded within 30 days from the date of AGM. To cut it short, first Form 23B will be filed by the Auditor and then Form 23AC nd 23ACA should be filed by the Company.

3. This being the first financial year, previous year figures will be 0. The First financial year of the company will be from the date of incorporation. Hence, in the previous year coloumn of the Form u will have to enter From ----- to (date of incorporation).

God Bless

CS Udit Sharma

Abhishek Shah (Associate) (56 Points)
Replied 30 October 2011

In case of First year of company previous years date automatically comes as one day previous to the date of incorporation e.g. date of incorporation is 05/04/2010 and the date in previous years column comes 04/04/2010, which is not accepted in prescruitny.