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Q & A

1183 Views 3 Ans

In a private co, Last year in Sep 2014, auditors were appointed for 1 year (instead of 5 years) u/s 139(1). Rotation is not mandatory. This year should the Company reappoint the auditors for 4 years or for 5 years ? Kindly advise.

AGM

Posted By: Manouj agrawaal, fca, partner 4 year(s) ago

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


    Manouj Agrawaal, FCA, Partner

Though there is no clear cut clarity on the issue, the better answer is 5 years. Last year term of 1 year has expired now. New term will be of 5 years. Last year mistake was committed but let us not commit a mistake this year by keeping a term of 4 years instead of 5

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    Manouj Agrawaal, FCA, Partner

Though there is no clear cut clarity on the issue, the better answer is 5 years. Last year term of 1 year has expired now. New term will be of 5 years. Last year mistake was committed but let us not commit a mistake this year by keeping a term of 4 years instead of 5

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    Vijay Shankar

4 years

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