Abhishek PanegalAbhishek Panegal asked 9 months ago

Auditor has a term upto 5 AGMs. Eg : If he is appointed in 2011-12 FY AGM and he will continue for 5 AGMs. Suppose in FY 2016-17, 2017-18 and 2018-19 no AGM is conducted. As per the act auditor will conduct audit only till FY 2016-17..so since no AGM has been conducted he will continue then what audit will he do for the period 2017-18 and 2018-19 as he would have completed his audit of 2016-17.

2 Answers
RaviRavi Staff answered 9 months ago

He will continue to hold office of auditor in 16-17 / 17-18 / 18-19 till AGM is conducted. Now backlog of AGMs will be cleared one by one first AGM of 16-17 say at 11 AM and then 17-18 at 11:30AM and for 18-19 at 12:00PM. 
He will do audit of 16-17 as it is covered in 5 AGMs of his appointment, he will do for 17-18 / 18-19 also if he is reappointed. if re-appointment doesn’t happen then some one else will be appointed he will be given reasonable time and then next AGM will happen. 

RaviRavi Staff answered 9 months ago

Continuing to hold office and doing audit for the time period are 2 different things.

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