sir, suppose a firm is appointed as auditor of company at conclusion of first agm then will its tenure will be 5 yr or 10 yr as 139(1) says the auditor(firm/ individual) shall hold office till conclusion of 6th agm.

3 answers

Ravi Staff September 13, 2017

Ca firm will get 10 years.
Rotation is applicable if 2 terms of 5 years are over.
One year term of first auditor or short term of causal vacancy auditor  will not be counted.


But sir if sec 139(2) not applicable then the same Auditor can be reappointed by simple ratification

Ravi Staff September 13, 2017

looking at query i assumed , that rotation is applicable and focus was on point weather first auditor can be reappointed, so answer is yes he can be reappointed and that too for full 10 years


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