10 April 2016
According to companies act 2013,the appointment of every auditor is ratified at the AGM by the shareholders,then what is the use of saying that he is appointed for 5 consecutive years? Is 5 year tenure mentioned for cooling period purpose or something else?
11 April 2016
Your Query 1 :- Due to regulatory requirement Rule 3(7) Companies(Audit & Auditors) Rules 2014 Your Query 2 :- The Cooling off period is mentioned for good governance & maintaining the independence of Audit
CAclubindia
