Appointment of First Auditor in Private Company
Section Attracts -139(6) of the companies Act 2013
Time Limit for Appointment– within 30 days from incorporation of the Company
Accounts Audit: From the date of Incorporation till the date of end of Financial Year.
Hold Office: Till the Conclusion of First Annual General Meeting.
Way of Appointment of First Auditor
1. By Board of Directors of the Company–
2. By Members of the Company–
1. The consent Letter of Auditor must be before the date of Appointment.
2. Filling Form ADT-1 for appointment of first auditor is not mandatory, company can file the form only for its records and while filling the form keep in mind that the tenure of the auditor is from the date of incorporation till the date of ending of Financial Year.
3. At the time of First Annual General Meeting the Individual or Auditor firm should be appointed as auditor, by the company who shall hold office from the conclusion of that meeting till the conclusion of its sixth Annual General Meeting.
4. And at this time company should file Form ADT-1, mandatory as appointment of auditor to the respective Registrar of Companies.