What if auditor is not appointed within 30 days?
Table of Contents
What if auditor is not appointed within 30 days?
If the board fails to appoint such auditor within the next 30 days, it shall inform the members of the company who shall appoint such auditor within 60 days at an extraordinary general meeting. Such auditor shall hold office till the conclusion of the annual general meeting.
Is appointment of audit compulsory for Pvt Ltd?
Audit of Private Limited Companies will require the appointment of an Auditor by the Board of Directors after the incorporation of a company in the first Annual General Meeting within 30 days of incorporation. In case the Board of Directors fails to appoint an Auditor, the members of the company must be informed.
Does a private limited company need an auditor?
Yes. However the audit of limited companies is a practice that is currently regulated by law, and it is illegal for any individual or firm that is not a ‘Registered Auditor’ to carry out an audit of a UK Limited Company.
Who has primary responsibility of appointment of auditor of a limited company?
the Comptroller and Auditor-General of India
In the case of a Government Company, the Comptroller and Auditor-General of India shall appoint the first auditor within sixty days from the date of registration of the company.
Who can be an auditor?
As per the Companies Act, 2013, only a practising Chartered Accountant (CA) is eligible to be appointed as the statutory auditor in a company. A person shall not be qualified for appointment as statutory auditor of a company unless there is eligibility on the part of the person to act in the capacity of an auditor.
What are the compliance required for private limited company?
A startup running as a private limited company has to follow numbers of compliance as laid down by various statutes and other regulatory bodies. These include but are not limited to the periodic filing of tax and other returns, holding the board and other meetings, maintaining statutory books and accounts etc.
How long do private companies have to file accounts?
9 months
Overview
| Action | Deadline |
|---|---|
| File annual accounts with Companies House | 9 months after your company’s financial year ends |
| Pay Corporation Tax or tell HMRC that your limited company does not owe any | 9 months and 1 day after your ‘accounting period’ for Corporation Tax ends |
What is the disqualification of company Auditor?
Disqualifications of Auditors A body corporate, except LLP. An officer or employee of the company. Any partner/employee of company. A person whose relative is a director or is in the employment of the company as a director or key managerial personnel.