Auditor Appointment in vadapalani - Filingpoint


Welcome to Filingpoint Auditor Appointment Procedure Expert +91 72999 72500

Filingpoint Auditors play an essential role in assessing the financial records of the firm and ensures that the company is following Indian laws. The auditors also help the company in regulating the laws of taxation. Thus, they are important for every company. But, appointing and filling up casual vacancies in the position of an auditor could be daunting for any new business. To avoid such a situation, it is better to take the help of professionals like Vakilsearch.

An individual qualified to review and verify the accounting data and recognised as a chartered accountant under the Chartered Accountants Act 1949 can become an auditor. A person can also be a member of a firm of auditors, provided the majority of its partners are Chartered Accountants.

The first auditor must be appointed by the Board of Directors within thirty days of the incorporation of the company. If the first auditor is unable to be appointed by the Board of Directors, the company must hold an EGM and choose the auditor within 90 days of the date of incorporation. The first auditor must provide his consent and eligibility certificate to the company.

Suppose, there is a casual vacancy in the position of the auditor and it is not due to the resignation. The board of directors must appoint the auditor and inform the shareholders about it. The appointment will be deemed effective only after approval of the shareholders in an AGM held within three months from the recommendation of the Board. The company must also file a Form ADT-1 with the Registrar of Companies within 30 days from the appointment of the auditor.

Contact  Our Filingpoint team expert +91 72999 72500

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