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First Auditor Appointment Of Private Limited Company
whether board can appoint first auditor for 5 years?
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No after expiry of 30 days from the date of incorporation of company Members can appoint first auditor for 5 years earlier appointed by Board or any other person who qualify to be appointed as an auditor as per sec. 141 of Companies Act
As per the provisions of Section 139 of the Companies Act 2013, Board shall appoint the first auditor within a period of 30 days from the date of incorporation of Company. The auditor so appointed shall hold the office till the conclusion of First Annual General Meeting of the Company. Thereafter in that AGM of the Company, the auditor can appoint the same person as the auditor for the period of 5 years who shall hold the office from the conclusion of this AGM till the conclusion of 6th AGM of the Company.
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