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TMI BlogAppointment of auditorsX X X X Extracts X X X X X X X X Extracts X X X X ..... certificate from him or it that the appointment, if made, shall be in accordance with the conditions as may be prescribed, shall be obtained from the auditor: Provided also that the certificate shall also indicate whether the auditor satisfies the criteria provided in section 141: Provided also that the company shall inform the auditor concerned of his or its appointment, and also file a notice of such appointment with the Registrar within fifteen days of the meeting in which the auditor is appointed. Explanation.-For the purposes of this Chapter, "appointment" includes re- appointment. (2) No listed company or a company belonging to such class or classes of companies as may be prescribed, shall appoint or re-appoint- (a) an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the provisions of this Act, members of a company may resolve to provide that- (a) in the audit firm appointed by it, the auditing partner and his team shall be rotated at such intervals as may be resolved by members; or (b) the audit shall be conducted by more than one auditor. (4) The Central Government may, by rules, prescribe the manner in which the companies shall rotate their auditors in pursuance of sub-section (2). Explanation.-For the purposes of this Chapter, the word "firm" shall include a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008 (6 of 2009). (5) Notwithstanding anything contained in sub-section (1), in the case of a Government company or any other company owne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date of registration of the company and in case the Comptroller and Auditor-General of India does not appoint such auditor within the said period, the Board of Directors of the company shall appoint such auditor within the next thirty days; and in the case of failure of the Board to appoint such auditor within next thirty days, it shall inform the members of the company who shall appoint such auditor within sixty days at an extraordinary general meeting, who shall hold office till the conclusion of the first annual general meeting. (8) Any casual vacancy in the office of an auditor shall- (i) in the case of a company other than a company whose accounts are subject to audit by an auditor appointed by the Comptroller and Auditor-General of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illing of a casual vacancy of an auditor under this section shall be made after taking into account the recommendations of such committee. ------------------- Notes;- 1. Substituted vide F. No. 1/33/2013-CL-V - Dated 30-6-2016, 1st April, 2014 before it was read as, Provided also that every company, existing on or before the commencement of this Act which is required to comply with provisions of this sub-section, shall comply with the requirements of this sub-section within three years from the date of commencement of this Act: 2. Omitted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 07th May, 2018, before it was read as, "Provided that the company shall place the matter relating to such appointment for ratificat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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