06 January 2014
As per the companies act,2013.A practcising CA or a firm of CA can be appointed for 5years or two consecutive terms of 5years for firm.Subject to ratification of shareholders. The requrement has to fulfilled within 3years of implementation of this act ,so accordingly if the auditor has already completed 2years then it can be interpreted that he will have 3more years to act as an auditor of that company.then the cooling period restriction will apply.
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