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REAPPOINTMENT OF AUDITOR IN AGM

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13 Points Posted on 26 December 2021
can we appoint the new auditor in AGM in the place of retiring auditor or we are suppose to remove the previous auditor? and appoint new auditor.
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On 26 December 2021 at 21:44 Report
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4 Points Posted on 26 December 2021
Individual auditor cannot be reappointed as an auditor after a term of 5 years, cooling period has to be followed for 5 years .
audit firm can be appointed for 2 terms of 5 years. after that cooling period for 5 years has to be followed.
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On 26 December 2021 at 23:31
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Company Secretary
7085 Points Posted on 27 December 2021
In Case of Individual Auditor they can be appointed for 5 yrs term

In Case of Audit Firm Auditor can be appointed for 2 Consecutive terms of 5 Years means can be appointed for 10 Years..

yes you can appoint a new auditor in Agm as a new statutory auditor by filing Form Adt1
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On 27 December 2021 at 01:14
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13 Points Posted on 27 December 2021
@ shruthi bansal @ tanuj chandra thanks for the reply,
actually the period of 2 term of 5 years not lapsed,but want to change the auditor in AGM.Does I have any option other than resignation and removal.
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On 27 December 2021 at 09:41
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Company Secretary
7085 Points Posted on 27 December 2021

Yes Take a Noc from previous Auditor and Tell him to File Adt3 within 30 days of Resignation

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On 27 December 2021 at 10:15
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Service
405 Points Posted on 27 December 2021

Its better to take a NOC from the existing auditor and let him file the form ADT-3. Meanwhile you can appoint new auditor.

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On 27 December 2021 at 11:51
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Company Secretary
7085 Points Posted on 30 December 2021
Yes as soon as you received the noc and existing auditor filed it's adt3 for resignation , file the auditor appointment in form adt1
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On 30 December 2021 at 16:15


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