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form no. 23 for appointment as statury auditor

Pawan Singhal (chartered accountant) (655 Points)

15 April 2009

Dear,

After incorporation of pvt. ltd. director has appointed me(c.a.) as statutory auditor of co. this is the first year of the co. is it compulsory for me to file form no. 23 to Roc For information of my appointment as statury auditor.

Ca pawan singhal

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7 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 15 April 2009

Hi Pawan,

First of all Congrats for being appointed as Satutory Auditor.

I believe you are talking about Form-23B and not Form-23.

I understand your problem. As per section 224(1) form-23B is very much required. But as far as appointment of first Auditor u/s 224(5) is concerned there is difference of opinion.

As per some Experts first Auditors are not required to inform the Registrer whether they have accepted the appointed ot not and likewise company is also not required to intimate first Auditor about his appointment.

But on the contrary as per other eminnant Expert like Mr. Rammiya in the above case also the first Auditor is also required to intimate Registrer by filing form 23B.

To conclude i would suggest file Form-23B with Registrer of Companies because i think it is not a big deal.

Hope that the above discussion would be off some help to you.

Best Regards

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Sumit Jain (CA) (4760 Points)
Replied 15 April 2009

good reply ankur

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 16 April 2009

Thank You.

Looking forward for Pawan's response.

Pawan Singhal (chartered accountant) (655 Points)
Replied 16 April 2009

can co. wrte off 20 % preliminary exp. after incorporation even activity of selling and purching is not started

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 17 April 2009

Dear Pawan,

AS PER INCOME TAX, 10% is allowed per year, no matter whether business is start or not…………….

AS PER COMPANY ACT, as there is no bar to write of the preliminary exp. It can be write off 100%, 50%,20% or 10% as per adopted accounting policy of the company.

Conclusion: As per my opinion, if p& L a/c is made as per Schedule VI of Companies Act, 1956 then preliminary exp can be write off. (it does not make any difference whether activity of selling and purchasing is started or not).

Views of other fellow professionals solicited.