The … It is not mandatory to reappoint the retiring auditor even if 3 things stipulated in sub-section (9) are not attracted. An Auditor Under Companies Act is appointed for a term of 5 years. If the Board agrees with the recommendation of the Audit Committee, it shall further recommend the appointment of auditor to the members in the AGM otherwise, it shall refer back the recommendation to the committee for reconsideration citing reasons for such disagreement. The management can be rest assured that they have performed their statutory as well as non-statutory duties such as corporate governance. The remuneration will be in addition to the out of pocket expensed incurred by the auditor in connection with the audit of the Company and any remuneration paid to him for any other service rendered by him at the request of the Company. The board of director may recommend any person other than retiring auditor for appointment as statutory auditor of the Company at the time of completion of term of existing auditor of the Company. The Statutory Auditors can resign for different reasons viz. By appointing a statutory auditor for conducting a thorough audit of the books of accounts, the credibility and authenticity of the business improves. a special resolution has not been passed at that meeting appointing some other auditor or providing expressly that he shall not be re-appointed. Save for later; The auditor is appointed for a term of three financial years by the general meeting of shareholders, upon proposal of the board of directors and after approval by the works council (where applicable). Provenience is perfect to partner with in your startup or corporate journey. It has been held in the case of the Institute of Chartered Accountants of India v Jnanendranath Saikia (1955) 25 Comp Cas 53, 56 (Assam) that casual vacancy is not a vacancy created by any deliberate omission on the part of the company to appoint an auditor at its annual general Meeting. The statutory auditor verifies the books of accounts and is registered with the company under the Companies Act, 2013, which is known as a statutory audit or company audit. Dear Sir, The company is planning to hold Annual General Meeting on ________________and in accordance with provisions of Section 139 of Companies Act, 2013, we need your consent and certificate under section 141 of Companies Act, 2013 for your appointment as Statutory Auditor of Company. Appointment of Statutory Auditors, Secretarial Auditor and Scrutinizer. → Certificate from auditor for such an appointment. A. Appointment of the statutory auditor: Podstawa prawna: Art. Allowed by that body to act as an auditor or. As per section 139(7), The appointment of auditor in Government Company or 4 Audit and Auditors government controlled (directly/indirectly) Company shall be held in accordance with the following provisions: The First auditor shall be appointed by the Comptroller and Auditor General within 60 days from the date of incorporation. I would like recommend Provenience to every startup. A corporate body other than a limited liability partnership registered under the Limited Liability Partnership Act, 2008; A person who is a partner, or who is under the employment of an officer or employee of the company; A person who, or his relative or partner is holding any security of or interest in or is indebted to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of such amount as may be prescribed; or has given a guarantee or provided any security in connection with the indebtedness of any third person to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, for such amount as may be prescribed; a person or a firm who, whether directly or indirectly, has a business relationship with the company, or its subsidiary, or its holding or associate company or subsidiary of such holding company or associate company of such nature as may be prescribed; a person whose relative is a director or is in the employment of the company as a director or key managerial personnel; a person who is in full-time employment elsewhere or a person or a partner of a firm holding an appointment as its auditor, if such persons or partner is at the date of such appointment or reappointment holding an appointment as auditor of more than twenty companies; a person who has been convicted by a court of an offence involving fraud and a period of ten years has not elapsed from the date of such conviction; a person who, directly or indirectly, renders any service referred to in section 144 to the company, or its holding a company or its subsidiary company. 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