Praparation of annual report of a pvt ltd company

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Ashish Saini

Self Employed at Ashish Saini & Associat

180 Points Posted on 08 October 2018

Respected Experts,

A pvt Ltd co was incorporated on December 2016.

1. First Financial Year dec 2016 to March 2017 ( xyz Auditor )

2. Second Financial Year April 2017 to March 2018. ( abc auditor to be appointed in AGM by Shareholders, as per Co Act second and subsequent auditor is to be appointed by Shareholders in AGM/)

My query is :

1.If ABC Auditor is to be appointed in AGM by Shareholders then How will Auditor prepares Its Report on BS before his Appointment. ( i am asking this q because - agar auditor ki appointment AGM me honi hai tab kese wo bs per apni audit report agm date se phle de skta hai, kese audit report per Board apni Comments kar skta hai jis report ko leke Board ko usi AGM me jana hai jis AGM me ABC auditor ki appointment honi hai )

2. May be i am thinking wrongly., But if i am correct , whether we should appoint ABC auditor in EGM before preparation of Annual Report.

Plz Suggest me what is the better treatment or if i am wrong plz rectify by giving your valuable suggestion.

Thanks & Regards

Ashish Saini

Replies (2)

Vatsla Alagh

1545 Points Posted on 08 October 2018

Audit for financial year 16-17 will be done by xyz auditor and the same audited financials will be presented in first AGM of company. In first AGM, ABC auditor will be appinted for audit of fy 17-18 and will present audited financials in 2 AGM of cmpny tht will be held in year 2018. Where is the confusion then?

Ashish Saini

Self Employed at Ashish Saini & Associat

180 Points Posted on 08 October 2018

Thanks Mam for reply, You are Correct ,as the procedure has been prescribed in Law, but as i have come to know after Discussions with Experts like you and with my friends , they have told me this may be a case of casual vacancy of Auditor or removal of auditors before expiry of his term and this Would be filled by the board within 30 days of Event.