In case section 139 (2) of the CA,2013 is applicable to a Company and the existing audit firm has already completed say 8 years tenure and if the Company wishes to re-appt the same auditor for next 1 financial year:
1. Can the Co. re-appt the audiot for just 1 year or whether the appointment has to be mandatorily for the balance period of 2 years at a time?
2.If the Company does appoint only for 1 years, will the balance period of 1 year tenure of the auditor's appt. lapse and the Co. will have to appt new auditor for the next year?
CAclubindia
