Hi
Maximum tenure of an individual auditor is 5 years and 10 years in case of firm.
My question is if X was an auditor of ABC Ltd for 5 years and later on he joined one audit firm ZYX associate, So can ABC Ltd company appoint ZYX associate as an auditor ?
Thanks in advance..
1 Replies
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(7 Points)
Replied 20 August 2017
No as per section 139 (2) if an retiring auditor whose term has completed joins another firm in order to get re appointment in same company under new firm name , the new firm can't be appointed because incoming partner is disqualified hence firm will also get disqualified.
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