Term of auditors for rotation

Hi. I had a query relating to rotation of auditors. If an auditor firm has been appointed in a pvt ltd Co for 2nd term and then in 2nd year of the 2nd term the Co comes under the applicability of sec 139(2) then how are we going to calculate the total term of the auditor. Will previous term be taken into account in this situation or the auditor can be appointed for one more term?
Replies (2)
Quick Summary
This discussion explores the complexities of auditor rotation for private limited companies, particularly when Section 139(2) becomes applicable mid-term. Participants debate whether previous auditor terms should be counted towards the limit or if the new rules apply prospectively from the financial year they become effective. The core question is how to accurately calculate the total auditor tenure in such scenarios.

Yes we need to take previous term.
As per my understanding previous term will not include ,it's applicable from the FY when 139(2) applied ...because effect of 139(2) is prospective in nature not retrospective

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details