16 September 2013
There is no time prescribed in law. However it would be good to finalised a new auditor as early as possible and appoint the firm as new auditor.
Approval of shareholders would be required to fill the vacancy caused by the resignation of previous auditor.
16 September 2013
No direct consequences. However it is not a position will can be kept blank for a long time as you will not be in a position to explain the delay to any statutory authority.
You should try to fill this vacancy asap so that audit work does not suffer.
17 September 2013
Procedure for appointing auditors in casual vacancy: 1. Hold Board meeting to consider the proposal for appointing auditor in casual vacancy. In the same meeting approve the draft notice for EGM for passing ordinary resolution for appointment of auditor. 2. Before appointment obtain a letter from auditor u/s 224 (1B). 3. Hold EGM & pass on ordinary resolution. 4. Intimate the auditor about his appointment with 7 days. 5. Auditor so appointed shall file Form 23B within 30 days of appointment. Example Resolution for your reference, Casual vacancy, Auditor resigning, filling up of – Ordinary Resolution – General Meeting “RESOLVED that M/s…………, the Chartered Accountants (Firm Regn. No.___________________), be and are hereby appointed as auditors of the company to fill up the casual vacancy caused by the resignation of M/s………………, Chartered Accountant. until the conclusion of the next Annual General Meeting of the company at a remuneration as the Board of directors may determine.
Further you can visit the following link for clarification: http://www.ourprofessionalteam.com/index.php?option=com_oscontent&view=article&id=2714&catid=100&Itemid=48
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