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Incorporation Certificate of Company
DSC of director of company
Resignation letter of previous auditor (If applicable)
Consent letter of proposed auditor
PAN/FRN/Membership No. of proposed auditor
Email id of proposed auditor
Intimation of appointment by the company
Draft intimation letter for appointment
Draft resolution for appointment
Filing of Form ADT-1
All the government and non-government organizations have to keep track of their accounts. The financial statements of these firms need to be thoroughly analyzed and assessed before submitting to various government bodies. An auditor is the person who evaluates the validity and reliability of financial statements of an organization. On the basis of such evaluation, he prepares a report and submits it to organization for further compliances
Appointment of First Auditor
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Particulars |
Non Government Co. |
Government Co. |
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Who appoints the auditor |
Board of Directors or members of company
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CAG of India or Board of directors or members of company
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Cut-off date for appointment |
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|
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Tenure of appointment |
The auditor shall hold office until the conclusion of the First AGM |
The auditor shall hold office until the conclusion of the First AGM |
Appointment of Subsequent Auditor
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Particulars |
Non Government Co. |
Government Co. |
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Who appoints the auditor |
Members of the company in AGM
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Comptroller and Auditor General of India (CAG)- within 180 days from the commencement of the financial year |
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Tenure of appointment |
The auditor so appointed shall hold office from the conclusion of First AGM until conclusion of 6th AGM. Thus, tenure is maximum 5 years. Then, auditor can be reappointed for next 5 years subject to provisions of rotation of auditor in specified companies. (Read FAQs) |
Auditor so appointed shall hold office until the conclusion of the AGM; |
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Cooling Period |
5 years |
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Incorporation Certificate of Company
DSC of director of company
Resignation letter of previous auditor (If applicable)
Consent letter of proposed auditor
PAN/FRN/Membership No. of proposed auditor
Email id of proposed auditor
Intimation of appointment by the company
Draft intimation letter for appointment
Draft resolution for appointment
Filing of Form ADT-1
Any individual who has qualified and recognized as a Chartered Accountant (CA) in practice under the Chartered Accountant Act 1949 is deemed to be an auditor
The following class of Companies shall not appoint or reappoint:-
(a) an individual as auditor for more than one term of five consecutive years and
(b) an audit firm as auditor for more than two terms of five consecutive years:
The class of companies shall mean the following classes of companies excluding one person companies and small companies:-
In case of specified companies in previous FAQ, cooling period shall be 5 years. It means once an auditor/auditing firm completes tenure of 5/10 years in a specified company, such auditor/auditing firm cannot be appointed as auditor for next 5 years in the same company
ADT-1 form needs to be filed within 15 days of the conclusion of meeting in which new auditor are appointed
Yes it can be filed by paying applicable additional fee
A casual vacancy means a vacancy owing to death, disqualification or resignation of the auditor
Non Government Company:
Government Company:
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