Hello...
Can a Company appoint an Auditor for less than 5 years?
Radhika
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 24 September 2016
Auditor can be appointed for less than 5 years. However, just keep in mind that this period will be considered as one term and he cannot be reappointed for more than two terms even if total period is less than 10 years.
CS Arvind meena
(Corporate Law Consultant)
(174 Points)
Replied 02 September 2017
As per Section 139 (1) "Subject to the provisions of this Chapter, every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting"
So there is no question of appointment of audtior for less than 5 years. So appointment will be for 5 years.
RAHUL AGARWAL
(2 Points)
Replied 05 October 2018
THUKARAM NAYAK
( Tax Consultant)
(23 Points)
Replied 25 December 2018
Arvinda Meenaji,
Whether appointment of Auditor for a term of 5 years is applicable for ONE PERSON COMPANY (OPC). Can auditor be appointed for less than 5 yeras for One person company.
Purvi Raval
(2 Points)
Replied 06 January 2021
Shall we appoint an auditor for less than 5 years for listed company??if yes then under which section??
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)