Auditor Appointment in vadapalani - Filingpoint


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Filingpoint Auditors are a vital part of any organisation or business as they help in measuring the condition and financial information of the company. It is the duty of every company to appoint a qualified and competent auditor to fulfil this obligation. It is also essential for companies to adhere to the various procedures and regulations laid down under the Companies Act.

The first appointment of the Auditor of a company has to be done within 30 days of incorporation. The board of directors has to propose the name of the first auditor and get it authorised at the company's first AGM. The first auditor has to serve the company till the end of its first AGM.

If a casual vacancy arises due to the resignation of an auditor, it has to be filled as soon as possible. The resigning auditor must provide a resignation letter informing of the date and reason of his/her resignation. This letter should be on the official letterhead of the resigning auditor. Within 30 days of the date of resignation, the company must convene a board meeting and pass a resolution to accept the resignation. The company must ensure that it has received a copy of the eform ADT-3 filed by the resigning auditor.

In case of a new company, the auditors have to be appointed at the first board meeting which should be held within 30 days of the company's incorporation. The Board of Directors should obtain consent and a certificate from the proposed auditors that they are a qualified Chartered Accountant and comply with the eligibility norms as prescribed under the Companies Act.

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