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IF A COMPANY APPOINTS ABC & CO(PROPRIETORSHIP FIRM) AS AUDITOR AND SUBSEQUENTLY IT MERGES WITH ANOTHER AUDITOR FIRM XYZ & CO .IN THAT CASE CAN XYZ & CO BE THE AUDITOR OF THE COMPANY IF COMPANY ACCEPTS IT .IF YES THEN WHAT WILL BE THE PROCEDURE FOR THAT

Auditors

Posted By: Reena 10 year(s) ago

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


    s.m.a.millath

A merger does not take away the obligation. Instead of ABC, the obligation would be on on XYZ. All the requirement of appointment of auditor would now devolve on XYZ including qualification, eligibility and disqualification etc under law.

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Expert    Ankit Singhi

Such Auditor firm is required to intimate about the merger to the concerned companies and shall ensure that as on the date of appointment number of companies in which both the firms act as auditor's shall be within the limits.

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    AKILA

depends on the tenure of ABC & Co in the company, the balance of tenure can be taken by XYZ & Co but for further period other than the ABC & Co proprietor can only sign on behalf of XYZ & Co provided the Section applies to this company.

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