Dear Experts,
What will be the tenure of Auditor in Small Company ? Can Auditor apppoint in samll Company for 5 years or 1 year.?
Wating for your valuable reply on this.
Thanks and Regards,
CS Rachana Daga
2 Replies
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 24 September 2014
Provison of Section 139 (1) of the Companies Act, 2013 relating to appointment of auditor is applicable to all companies including small company.
Only exemption provided is in relation to rotation of auditor.
Muralidharan
(Self Employed)
(1034 Points)
Replied 05 October 2014
I agree with Mr.Mitesh Mehta. The provisions of Section 139(1) is applicable to all companies including small companies. The rotation of auditors is applicable to specified companies which is prescribed in the rules. Hence those companies which do no come under the purview of rotation of auditors have to compulsorily appoint their auditors for a period of five years in the AGM held in the year 2014.
Muralidharan
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