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Is it mandatory to appoint statutory auditor for a term of five years? Can he be appointed for one year and 'reappointed' every year; instead of 'ratification of appointment'?

Section 139- Appointment of auditors.

Posted By: Bandaru 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    Manouj Agrawaal, FCA, Partner

Under section 139(1) ( presuming your company does not fall under 139(2)), you need to appoint auditor for 5 years. There is no scope for one year under the section.

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Expert    Ankit Singhi

in my opinion , auditor has to be appointed for five years

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