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If the term of the statutory auditor ends in March 2017, then who will audit the 1st quarter of financial year 2017-18. when should the auditor be appointed for the Financial year 2017-18. Should we appoint the auditor for the F.Y. 2017-18 in the AGM to be held in year 2016-07?

Auditors

Posted By: Divakaran suresh 8 year(s) ago

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V. Maslekar

In terms of Sec.139 of CA 2013, the Statutory Auditor is appointed from the conclusion of AGM till the conclusion of Sixth/ Fifth AGM with option to ratification at every AGM. In the given question, since he is already appointed for FY 2016.17, then he shall hold the office till the conclusion of 2016.17 AGM , which shall be held on or before 30.09.2017. Thus , the said auditor shall audit 1 st quarter results of 2017.18. In case, if the said auditor resigns immediately after March 2017, then Company shall comply with the requirements of Sec 139 (8) of the Act.

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