Who appoints subsequent auditor of the company?

Appointment of Subsequent Auditor
The appointment is done by the members and he will hold office till the conclusion of the 6th meeting. The appointment is done by the members for a Maximum term of 5/10 consecutive years.
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Who appoints the auditor of a company?

After incorporation of a company in the first annual general meeting, an Auditor must be appointed by the Board of Directors. The Auditor will typically hold term till the conclusion of 6th AGM or 5 years. The appointment of an Auditor can also be made for a period of 1 year, renewable at each annual general meeting.
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What is a subsequent auditor?

an individual as auditor for more than one term of five consecutive years. an audit firm as auditor for more than two terms of five consecutive years.
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Who appoints external auditors of a company?

External auditors are independent auditors appointed by the company's shareholders; they usually belong to Certified Public Accountant Firm (CPA) to help remove any bias in the company's financial review.
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Can first auditor be appointed as subsequent auditor?

03 December 2016 Yes. if First auditor is appointed as subsequent auditor, he has to be appointed for 5 years from the date of AGM as per sec. 139(1). his period as first auditor will not be counted, when he is appointed as regular auditor.
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Appointment of Subsequent Auditor - Company Audit - Auditing and Assurance



How can I appoint subsequent auditor in OPC?

Appointment of Auditor

All companies are required to appoint the first Auditor of the Company, a practising Chartered Accountant within 30 days of incorporation. In case of OPC as well, an Auditor must be appointed by the Director of the OPC for auditing of financial statements of the company.
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How do you appoint a new auditor?

The appointment of auditors (other than the first auditors) is required to be done by the members of the company in the general meeting. The auditor appointed at the general meeting holds office from the conclusion of that meeting, with the meeting wherein such appointment being counted as the first meeting.
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Do shareholders appoint auditors?

Sections 489 to 491 restate the law on appointment of auditors of public companies, providing that auditors are generally to be appointed by shareholders by ordinary resolution in the general meeting before which the company's accounts are laid.
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Who will appoint special auditor?

Appointed by the Board Of Directors. This has to be done within 30 days from the date of Registration. Appointment can also be done by Members at Extraordinary General Meeting within 90 days of information.
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Does audit committee appoint external auditors?

Audit committees of listed companies are directly responsible for the appointment, compensation, and oversight of the independent auditor, including the resolution of any disagreements with management.
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Who appoints the first auditor of a government company?

Government Companies

In the case of Government Company, the first auditor shall be appointed by the Comptroller and Auditor General and it will be made within 60 days from the date of incorporation. Further, such appointment shall be noted in the Board meeting held immediately after such appointment.
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What if subsequent auditor is not appointed in AGM?

If the Board fails to appoint such Auditor, then it shall inform the members of the Company about the same. The members shall within a period of 90 days from date of incorporation, at an extraordinary general meeting, appoint the first Auditor of the Company. 1.3.
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Can a company appoint 2 auditor?

In case the company has appointed firm of Auditors, then such auditors can be reappointed subject to the maximum of 2 terms i.e. (10 years) and after the expiry of 2 terms, it is not eligible for appointment for another term.
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Who is responsible for the appointment of auditors Mcq?

The board of directors shall appoint first auditor of a company5.
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Who must appoint the first members of the audit committee?

The audit committee members must be appointed upon incorporation by the incorporators or within 40 business days after incorporation by the board of directors. Thereafter, the audit committee must be elected at each annual general meeting.
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How management auditors are appointed in the company?

1. At each Annual General Body meeting of the company, the shareholders shall appoint an auditor for the company. 2. The auditor so appointed shall hold office until the conclusion of the subsequent annual general body meeting.
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How the Auditors are appointed under the Companies Act, 2013?

Section 139(6) of the Companies Act, 2013 lays down that first auditor of a company, other than a Government company, shall be appointed by the Board of Directors within 30 days from the date of registration of the company and in the case of failure of the Board to appoint such auditor, it shall inform the members of ...
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How and when should an auditor be appointed?

Section 357 of the Companies and Allied Matters Act (CAMA) requires every company to appoint an Auditor or Auditors at every Annual General Meeting (AGM) by way of approval of 75% or three-quarters of the members present and voting at the AGM. Such Auditor(s) appointed at the AGM shall hold office until the next AGM.
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Do directors elect auditors?

In private companies, the directors appoint the first auditor of the company. The members may then appoint or re-appoint an auditor at a meeting of the company's members, or by written resolution, within 28 days of the directors sending the accounts to the members.
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How are auditors appointed and removed?

As per sub-section (1) of section 140, the auditor appointed under section 139 may be removed from his office before the expiry of his term only by a special resolution of the company, after obtaining the previous approval of the Central Government in that behalf.
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Is it compulsory to appoint auditor?

Appointment of Auditors

The directors of a company are required to appoint at least one accounting entity to be the company's auditor within 3 months of the company's incorporation.
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Who in a government company is appointed or reappointed by the Comptroller and Auditor General of India?

In accordance with section 139 of the Companies Act, 2013 the auditor of government company is appointed by the Comptroller and Auditor General of India. Was this answer helpful?
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Is it mandatory to file ADT 1 every year?

According to Sec 139 (1) of the new Companies Act 2013, it is mandatory to file this form every year with the Registrar Of Companies as a notice of appointment of auditor after the AGM wherein the new auditor was named.
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How cost auditor is appointed?

The cost auditor is to be appointed by the Board of Directors on the recommendation of the Audit Committee, where the company is required to have an Audit Committee.
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WHO removes internal auditor?

Internal Auditor is appointed by the management and the remuneration is also fixed by the management. Internal auditor is removed by the management only but the statutory auditor can be removed by the shareholders only.
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