Auditor Appointment in vadapalani - Filingpoint


Welcome to Filingpoint Online Auditor Appointment Expert +91 72999 72500

Filingpoint Auditor Appointment is an important procedure to make sure that a company has adequate financial health. It is a requirement by the Companies Act of India that a Chartered Accountant is appointed for the purpose of measuring the financial statements of a company and verifying their accuracy. The process requires strict adherence to the Companies Act and rules and regulations pertaining to it, failing which can lead to fines, penalty, or even removal of the auditor.

For a private limited or public limited company, the first auditor needs to be appointed within 30 days of the date of incorporation. The appointment of the first auditor is done through a resolution passed at the Board Meeting. The first auditor will be liable to sign the financial statements for the first year of operation.

In case of a government company, the Comptroller and Auditor General of India will be the one to appoint the first auditor for the firm. The government will also require that the firm provides consent and eligibility certificate to it before the appointment is finalized.

If a casual vacancy arises due to resignation, the Board of Directors will need to fill it as soon as possible. They should also intimate the Registrar and appoint another person to take over the duties and obligations of the vacated position within 30 days of the occurrence.

A certificate must be provided to the ROC from the proposed auditor(s) or audit firm(s) stating that they satisfy the eligibility norms prescribed by RBI guidelines, before their appointment is finalized. The KCPL will also require the proposed SAs to provide their written consent to such appointment and a copy of the eligibility certificate.

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