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appointment of auditor

31 May 2018

according to sec139(10) if any person is not appointed as an auditor then the existing auditor will continue, but what will happen if it is case of rotation of auditor 139(2).

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Jatin Bajaj (CS) (2930 Points)
Replied 01 June 2018

If the Company falls under the provision of Section 139 (2), read with rule 5 of Companies (Audit ) rules 2014, then provision of section 139 (10) shall not apply. the Company to whom rotation is applicable shall not appoint the same auditor for next 5 years.

But for the Company other then the Company to whom rotation is not applicable and no auditor is appointed , then as per section 139 (10), the existing auditor shall continue to hold the office of the Company

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