meaning of retiring auditor

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please explain the meaning of retiring auditor with an example
Replies (11)
When he complete his tenure either 5 yrs in case of individual and 10 yrs in case of firm... However in every AGM auditor is reappointed
Plz go through the provision of section 139,140,141 of company act 2013
I have went through the provisions of section 139 of the act.

there the meaning is
"the auditor who retires at the first agm and holds office till the next agm."

I'm unable to understand those lines.
At every AGM auditor is retiring auditor... He is reappointed by members in every AGM... ratified by member
that means the existing auditor will be called as retiring auditor at an agm?
Yes at every AGM they r being reappointed by members... Members can remove him with the permission of cg
thank u very much for ur replies
U r most welcome 😀

Can any one explain sec 140(4) of companies act 2013.i didn't understand the words ....... Except retiring auditor who completed him term..... Because any how they cannot reappoint.... Please could explain the above sec clearly

sec 140(4) specifies the situations where special notice is required as per sec 115

it is up to members in deciding to appoint another person than retiring auditor or, expressly providing not to appoint the retiring auditor

here retiring auditor simply means the auditor who has completed his tenure as the case may be u/s 139(2).

auditor to be reappointed need not be ratified by the members ( amendment act 2017). 

therefore sec140(4) applies where the auditor has not completed his tenure

Within the 5 years tenure of the auditor , at every AGM, auditor will become the retiring auditor ,OR if it completes its 5 year tenure ,then he becomes the retiring auditor? 


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