Audit and auditors

Companies Act-Phase (I & II)

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The first auditor of a Government company, shall be appointed by the Comptroller and Auditor-General of India (CAG) within 60 days from the date of registration of the company. If the CAG fails to appoint the same, then the auditor shall be appointed by Board of Directors of the company within 60 Days. If the Board of Directors fails to appoint the same then shall be appoint within next ……..days at Extra Ordinary General Meeting.

15 days

30 days

60 days

90 days

Explanation:

Section 139(7) of the Companies Act, 2013In case BOD also fails to appoint within such time then the appointment of auditor will be done by the member of the company at Extraordinary general meeting within next 60 days .The person so appointed shall hold the office till the conclusion of first AGM.

By: Srishti Gupta

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