NamrataNamrata asked 11 months ago

rotation of auditor: break in term for 5 countinuous yrs be considered as fulfilling requirement of rotation pls explain with example

1 Answers
RaviRavi Staff answered 11 months ago

suppose auditor completes 3 years and then he is disqualified or resigns or removed or any thing, it will be considered as break in term and it will be assumed that his term of 5 years is complete. so if auditor is individual ca, rotation will get applicable. if auditor is ca firm then rotation will depend whether it was 1st term or 2nd term