Resignation of Old Auditor and Appointment of new Auditor for Section 8

[mukesh soni]

Dear Sir,

Section 8 Company ..all filings pending from FY 2021-22 due to the death of one of the Directors.

Old Auditor not prepared Financial Statement of FY 2021-22. Now he is saying he will not sign Financials for FY 2021-22 and Thereafter as well. He is giving resignation at back dated.

Section 8 company wants to appoint me as an auditor of the company. Is there any risk if I accept and sign financials for FY 2021-22 at current date & FY 2022-23

Please advise

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Thanks & regards

mukesh soni

9890430055

[swathi reddy]

Not risk but you need to generate back dated udin for the fy 2020-21 financials ..i think that is not possible.

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[mukesh soni]

Dear Swathi,

FY 2020-21 already filed by previous auditor. But they didn't filed for FY 2021-22. Now issue is they want to give resignation back date.

My query :

1. Whether i should accept appointment back dated or Current date?

2. Financial s if I sign for FY 2021-22 with current date then what are consequences? to me and to company?

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[swathi reddy]

Yeah, you can accept back dated appointment, company need to file ADT-3 and ADT-1 for which additional fee will be levied. Only practical thing is how could you generate udin for fy 2021-22 now when you are appointed   back dated. So, you have to generate udin on current date and give report. Company can file annual forms but in future ROC may send notice for compounding as the financials are not filed within due date. You will not be having any risk only companies could have that too if ROC examines the forms as generally annual forms are STP forms(gets approved immediately after filing). I don't think so you will be having any risk, if it a private company. 

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[mukesh soni]

Dear Swathi,

Thanks for detailed suggestion.

I was also thinking the same however i asked to company (Section 8) for appointment at current. it is imp to note that earlier audit wants to resign at back date.

thanks a lot👃

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[swathi reddy]

No problem. Happy to share knowledge

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