banner_ad

Re-appointment of Statutory Auditor for mandatory 5 years?

Others 386 views 5 replies
User Avatar

3 Points Posted on 11 January 2021
If a Statutory Auditor Firm is reappointed for Second term , is it mandatory as per Companies Act to re appoint them for 5 years in their second term?
0 Reply Share Follow
On 11 January 2021 at 21:07 Report
Replies (5)
User Avatar

Chartered Accountant
24588 Points Posted on 11 January 2021
Yes it is mandatory for appointment for 5 years but any statutory auditor may be removed from his office even before his expiry of term
1 Reply
On 11 January 2021 at 22:24
User Avatar

delhi
720 Points Posted on 12 January 2021
Yes it's mandatory for all types of companies.
Reply
On 12 January 2021 at 01:17
User Avatar

17264 Points Posted on 12 January 2021
It is not mandatory to re-appoint in second term. Company can have colling off period of 5 years
Reply
On 12 January 2021 at 12:30
User Avatar

Professional
1979 Points Posted on 13 January 2021
For listed companies and other kind of prescribed companies , Auditor or audit firm may be appointed for One/two Term of less than 5 Years (as the case may be) for all other companies ,auditor should be appointed for 5 years (and no concept of rotation is applicable ).
1 Reply
On 13 January 2021 at 07:39
User Avatar

3 Points Posted on 13 January 2021
Hi chirag, any citation in company's act or reference anywhere , where retiring auditor firm in their second term can be Re-appointed for less than five years?
Reply
On 13 January 2021 at 13:37


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details