1. is Auditor appoint is for 5 years or re-appointment at every AGM is required ?
2. is ADT-1 to be filed every year or Once in 5year in which auditor is appointed?
3. is for Appointment of another audit in the first AGM resignation required to be recived from the auditor appointed at the first Board meeting ?
4. after completion of five years tenure can we appoint another auditor without recieving resignation from prevoius auditor? and any other requirement is there for not appointing retiring auditor after completion of five years?
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Regarding Auditor Appointment
Replies (1)
Yes ,Auditor should be appointed for 5 Years ,Previously there was a provision for ratification of appointment in AGM every year by ordinary resolution but now it's not required
ADT-1 will be filed only once unless otherwise new auditor is appointed
For Board Appointed Auditor ( First One ) MGT -14 & ADT -1 will be filed and his tenure will end at ensuing AGM ,If he is confirmed by shareholders then Again MGT-14 & ADT-1 shall be filed ( No resignation required because tenure will end automatically at AGM) unless appointment confirmed
Outgoing Auditor post sucessfully completion of 5 years not to provide any resignation but new auditor will intimate about his/ her / firm appointment with board has to take note of completion of audit term and appointment of new auditor ...Here in this case MGT-14 will be filed for new appointment ...
Disclaimer - Should be read only in context of education purpose only
ADT-1 will be filed only once unless otherwise new auditor is appointed
For Board Appointed Auditor ( First One ) MGT -14 & ADT -1 will be filed and his tenure will end at ensuing AGM ,If he is confirmed by shareholders then Again MGT-14 & ADT-1 shall be filed ( No resignation required because tenure will end automatically at AGM) unless appointment confirmed
Outgoing Auditor post sucessfully completion of 5 years not to provide any resignation but new auditor will intimate about his/ her / firm appointment with board has to take note of completion of audit term and appointment of new auditor ...Here in this case MGT-14 will be filed for new appointment ...
Disclaimer - Should be read only in context of education purpose only
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