Impact of the Companies Act- 2013 and Rules on Statutory Auditors of Company Section- 139

Impact of the Companies Act- 2013 and Rules on

 Statutory Auditors of Company Section- 139

APPOINTMENT OF AUDITOR,

Section - 139 read with rules The Companies

(Audit and Auditors) Rules, 2014

Series-25.1

YOU MAY SEE THE FOLLOWING TABLE SHOWING THE RELEVANT PROVISIONS RELATING TO APPOINTMENT OF FIRST AUDITOR OF COMPANY.
Which Section will apply for appointment of First Auditor	Section 139(1)
Who will Appoint First Auditor	Board of Directory By Passing Board Resolution in Board Meeting
Time Limit for Appointment of First Auditor	Within 30 days from Incorporation of Company
Who will Appoint First Auditor if Board of Director Fails to Appoint First Auditor	Members of Company by Passing of Ordinary Resolution in Extra Ordinary General Meeting
What is the Tenure of Office of First Auditor?	First Auditor may hold office until conclusion of First Annual General Meeting
Whether First Auditor can be remove before First Annual General Meeting, If appointed in General Meeting.	Yes, by Members of Company by Passing of Special Resolution, After obtaining the previous approval of Central Government in that behalf
Whether First Auditor can be Appoint Through AOA & MOA.	No, the Appointment of First Auditor by the Articles of Company will not be valid.