Rotation of auditor
vaishali singh (trainee) (395 Points)
30 January 2018
A break in term of 5 consecutive years shall be considered as fulfilling the requirement of rotation.explanation?
5 Replies
HIMANSHU KANSAL
(Student CA FINAL)
(219 Points)
Replied 31 January 2018
IF A PERSON IS IS COMPLETING 5 YEARS THEN HE IS DISQUALIFIED FOR 5 YEARS.
BUT IF HE BREAKS HIS TERM OF 5 YEARS LIKE HE IS AUDITOR FOR 4 YEARS AND NOT FOR LAST 1 YEAR THEN HE CAN BE APPOINTED FOR NEXT 5 YEARS.
BUT IF HE BREAKS HIS TERM OF 5 YEARS LIKE HE IS AUDITOR FOR 4 YEARS AND NOT FOR LAST 1 YEAR THEN HE CAN BE APPOINTED FOR NEXT 5 YEARS.
CS Smreti
(cs)
(641 Points)
Replied 31 January 2018
Disagree, if an individual auditor is appointed for the term of 5 years n during 4th year his appointment is not ratified then he will said to have finished the term. He can not be reappointed for another 5 year.
vaishali singh
(trainee)
(395 Points)
Replied 31 January 2018
Ratification is removed under new companies act 2017
HIMANSHU KANSAL
(Student CA FINAL)
(219 Points)
Replied 31 January 2018
I MEAN TO SAY IN 5TH YEAR ANY OTHER PERSON IS AUDITOR THEN FROM 6TH YEAR ONWARDS ORIGINAL AUDITOR CAN BE APPOINTED FOR ANOTHER 5 YEARS
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