If Auditor is worked for 3 years in a company and then he take a break for 3 years then for how many more years that Auditor can be appointed in that company? Or Cooling of period will start even if he had worked for 3 years only?
Because it is written that, after completion of 5 years CONSECUTIVELY, cooling of period will Start.
Bt in my case he only work for 3 years and then he take a break.
Please do needful
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Sec 139(2) Rotation of auditor
Replies (4)
After the break he can again be appointed as auditor for a period of 5/10 years as the case may be.
only 2 years... there is a term 5 consecutive years,... hence...
The auditor can continue for next 2 years as he has already covered the period of 3 years out of 5 years.
Auditor can not be appointed till the completion of cooling period of five years.
As per rules for rotation of auditors even though auditor is appointed only for 1 day cooling period of 5 years will still be applicable.
In your case auditor has to wait for 2 more years for reappointment.
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