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Rotation of auditors

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20 Points Posted on 14 March 2021
An individual who was an auditor for a listed company and completed his term.
The same individual joined in the partnership firm which is going to be appointed as auditor in the same listed company. thus the firm is eligible as auditor or not.
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On 14 March 2021 at 11:57 Report
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Chartered Accountant
24588 Points Posted on 14 March 2021
A partnership firm can be eligible for re-appointment for two consecutive terms of 5 years i.e, 10 years
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On 14 March 2021 at 12:28
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20 Points Posted on 14 March 2021
Thank you Mr.sourav for your answer but can u please read the query again.
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On 14 March 2021 at 13:12
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Chartered Accountant
24588 Points Posted on 14 March 2021
Yes he will be eligible for re appointment
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On 14 March 2021 at 14:59
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2 Points Posted on 14 March 2021
The firm is not eligible to be the auditor of the partnership because he is already a partner of the business, that's self interest if he is appointed by the business.
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On 14 March 2021 at 17:43


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