First Auditor Appointment in case of Private Limited Company

[Iram Islam]

Dear All

Is it possible to change first auditor in  first year of incorporation of company itself if no ADT-1 was filed for previous auditor.

Please suggest.

[CA Shubham Nanda]

If ADT-1 not filed, then you can appoint anyone before audit

Thanks & Regards

Shubham Nanda & Co.

CA Shubham Nanda

(B.Com., ACA)

Mobile No. 9711018234

Email: shubhamn...@gmail.com

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[Iram Islam]

Suppose Company is incorporated in April 2022 and CA Firm is constituted in Nov'22. Would it be possible to appoint this firm as First auditor ?

I think company need to pass two board resolutions. First for the first time appointment of auditor and Second for the new first auditor appointment mentioning the reasons of change. Please correct me if I am wrong.

[CA Shubham Nanda]

If you're doing this, then you also need resignation letter from previous auditor.

Thanks & Regards

Shubham Nanda & Co.
CA Shubham Nanda (B.Com., ACA)

Contact No. 9711018234
Email Id: shubhamn...@gmail.com

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/6d477ca6-f538-41c5-8c51-9478b27331c8n%40googlegroups.com.

[CA Shubham Nanda]

And it's possible to appoint an auditor for 2022-23, who registered the firm in Nov. 2022 as the firm was in existance on 31.03.2023.

Thanks & Regards

Shubham Nanda & Co.
CA Shubham Nanda (B.Com., ACA)

Contact No. 9711018234
Email Id: shubhamn...@gmail.com

[Iram Islam]

Thank-you so much Sir for your valuable response :)

[Iram Islam]

In that case previous auditor needs to file ADT-3?

[CA Shubham Nanda]

When ADT-1 was not filed, I don't think there's a need to file ADT-3 for resignation and ADT-1 for appointment under casual vacancy.

Thanks & Regards

Shubham Nanda & Co.

CA Shubham Nanda

(B.Com., ACA)

Mobile No. 9711018234

Email: shubhamn...@gmail.com

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/d82ef9f4-9cf0-4749-a98b-17a63d245cc0n%40googlegroups.com.

[jm sundaram]

Hai

The first Auditor is appointed till the end of first AGM (in case of new pvt co)  and no need of filing ADT 1 form.   But at the time of appointment in AGM ADT 1 is required.   In your case you can appoint another Auditor in the AGM  and file ADT 1 after AGM date.

     Sundaram jm

Company Secretary

LTG Infrastructure Limited

Bangalore 560058

Phone: 9845875796

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/CADooDO12R4ofn_dxREw2fo%2Byb0yL%2BngzLJJmGpYFxizr8waXww%40mail.gmail.com.

[CA Shubham Nanda]

But that's for future years, not for 1st year.

Thanks & Regards

Shubham Nanda & Co.
CA Shubham Nanda (B.Com., ACA)

Contact No. 9711018234
Email Id: shubhamn...@gmail.com

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/CAKx8Fy1MYEan0hznppc9%3DPJgob9bq2txmyighh23VmBQ6dJ2LA%40mail.gmail.com.

[jm sundaram]

Hai

Pl refer this link:

https://taxguru.in/company-law/appointment-auditor-private-company.html

     Sundaram jm

Company Secretary

LTG Infrastructure Limited

Bangalore 560058

Phone: 9845875796

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/CADooDO319Wv0c1vgz9w7eqLuLwdLjp4ZC5B%2BZAbOLVru_ObJ1w%40mail.gmail.com.

[Iram Islam]

Thank-you all :)

[Prakash Joshi]

If the Board of Directors appointed first auditors within 30 days of incorporation of the company,then is there any statutory requirement to approve the appointment of first auditors until the conclusion of the first AGM.

In the notice of the first AGM of the company the  re-appointment of auditors will be included as  special business for approval of the shareholders. Is it ok??

Thanks

P C Joshi