CA. Rajesh P. Ahir (In Service @ PSU) (687 Points)
01 June 2012As per the COMPANIES BILL 2011 ( which is in Parliament)
Statutory Auditor will be Appointed For 5 Year and a Auditor can be re-appointed for forther period of 5 Years (Total 10 ), After which the Audit has to be Changed .
and
Members of the company can decide how many other Audit (Audit of other Companies) THE AUDITOR can do
Does it increases or decreases the INDEPENDANCE of Auditor?
Ankita Benegal
(CA Final)
(66 Points)
Replied 03 June 2012
obviously decreases the independence..the auditor's choice is being guided by one of his auditess.which i think is very unfair for the profession
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