Transfer of auditor

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2013 I would like to know if we have to shift from one auditor to other auditor what are the formalities we should do from the ffirst auditor or what are the letters we should take from the auditor before shifting. or we acn say what letters we should obtain from auditir before relieving him.

Ganeshbabu K

Ganeshbabu K (Expert)
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22 August 2013 Company not required to take any letter however as a professional ethics your new auditor will communicate with previous auditor whether he is having any objects,and professional reservations on new auditor appointment

Ankur Garg

Ankur Garg (Expert)
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22 August 2013 First take eligibility letter from new auditor as mentioned in section 224(1B).
Appointment of new auditor should first be considered at a board meeting. After approval of board, appointment should be put at general meeting for the approval of shareholders.

After approval of shareholders, appointment letter should be issued to new auditors, within 7 days of appointment. For more information kindly go through section 224 of the Companies Act, 1956.

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