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What is Auditor Appointment Provisions Explained about?
The Companies Act, 2013 specifies that the first auditor is appointed by the Board of Directors within 30 days of registration, or by the members within 90 days if the Board fails. Auditors are appointed at the first AGM for a term until the sixth AGM, with restrictions on consecutive terms and a five-year cooling-off period for individuals. Casual vacancies must be filled by the Board within 30 days, or by the Comptroller and Auditor-General in the case of government companies.
- Author
- lawwithkiran
- Language
- EN