Appoint Auditors
Easily conduct auditor’s appointment procedure in your company with Incorpadvisor.
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WHAT IS APPOINTMENT OF AUDITOR?
WHO IS AN AUDITOR?
Any individual trained to review and verify accounting data and recognised as a Chartered Accountant (CA) under the Chartered Accountant Act 1949 is deemed to be an auditor.
WHY APPOINT AUDITOR?
All the government and non-government organizations have to keep track of their accounts and audit reports as the financial year approaches. The financial statements of these firms need to be thoroughly analyzed and assessed before submitting them to the authorized departments. This assessment of financial documents is done by an Auditor.
Appointment of an Auditor is significant in a company that analyses and understands a company’s financial records to deliver effective analyses and relevant information. Management can use this information to evaluate the company and implement measures necessary to meet their objectives.
QUALIFICATIONS?
A person is eligible for the appointment as an auditor only if he is a Chartered Accountant. A firm is eligible for the appointment as an auditor only when the majority of its partners are Chartered Accountants practicing in India. In the case where a limited liability partnership firm is appointed as auditor, only the partners who are Chartered Accountants will be authorized to act and sign on behalf of the firm.
DUTIES OF AN AUDITOR?
- Provide an Audit Report
- Make Proper Enquiry
- Assist in Branch Audit
- Compliance With Auditing Standards
- Reporting of Frauds
- Provide Assistance in Investigation
- Adhere Principles of Auditing
- Provide Negative Opinion
WHAT IS OBJECTIVE OF AUDITOR?
The auditor’s objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes the auditor’s opinion.
DOCUMENTS REQUIRED FOR APPOINTMENT OF AUDITOR
- Company’s Board resolution copy
- NOC from old auditors
- A written consent from the Auditor to such appointment
- A certificate from the Auditor that he/she/it is not disqualified to be appointed as an Auditor under section 141
- Copy of the intimation sent by company to the auditor
- Name of the new auditor firm
- Address of the new auditor firm
- Email address and PAN number
- A number of years for which the firm is appointed
- Details of the resigning auditor firm
- Appointment date of the new auditor firm
- Digitally signed Form ADT-1 (along with the signature of the director of the company)
PROCESS OF APPOINTING AUDITOR
Upload the Necessary Documents on our web portal.
Consult our business advisor regarding the director category of appointing Auditor.
Our professional will verify the validity of documents & Information provided.
On Confirmation, make an online payment with different payment modes available.
Our professional shall submit the application along with other relevant documents.
On successful verification, the form will be filed and Auditor get appointed.
INBOX NOW COMPLETE LIST OF DOCUMENT REQUIRED
Plans And Packages
Basic
Rs.5499
Plus taxes
- Company Name Approval
- Certificate of Incorporation
- Current Bank Account*
- PAN
- TAN
- 2 DIN
- eMOA
- eAOA
- (2 Indian Directors, 2 Shareholders and Authorised Capital of Rs. 1,00,000)
Standard
Rs. 7499
Plus taxes
- Company Name Approval
- Certificate of Incorporation
- Commencement of Business
- Current Bank Account*
- PAN
- TAN
- 2 DIN
- eMOA
- eAOA
- PF Registration
- ESI Registration
- GST Registration
- GST Invoice software
- Documentation Kit
Premium
Rs. 11499
Plus taxes
- Company Name Approval
- Certificate of Incorporation
- Commencement of Business
- Current Bank Account*
- PAN
- TAN
- 2 DIN
- eMOA
- eAOA
- PF Registration
- ESI Registration
- GST Registration
- GST Invoice software
- Documentation Kit
- Website**
- Online Payment Gateway
- (2 Indian Directors, 2 Shareholders, and Authorised Capital of Rs. 1,00,000)
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Frequently Asked Questions
Q. What is Appointment of Auditer?
Auditors are generally appointed by the members to whom they report by ordinary resolution while directors have the power to appoint auditors at any time.
Q. Who is an auditor?
Any individual trained to review and verify accounting data and recognised as a Chartered Accountant (CA) under the Chartered Accountant Act 1949 is deemed to be an auditor.
Q. What would be tenure of first auditor?
First auditor, appointed as above, shall hold the office till the conclusion of first Annual General Meeting The Auditor will typically hold term till the conclusion of 6th AGM or 5 years. The appointment of an Auditor can also be made for a period of 1 year, renewable at each annual general meeting.
Q. What if the Board is not able to appoint the first Auditor within 30 days of incorporation?
If the Board fails to appoint, then it shall inform the members about the same. The members shall within a period of 90 days, at an extraordinary general meeting, appoint an auditor.
Q. Qualifications of Auditor?
A person is eligible for the appointment as an auditor only if he is a Chartered Accountant. A firm is eligible for the appointment as an auditor only when the majority of its partners are Chartered Accountants practicing in India. In the case where a limited liability partnership firm is appointed as auditor, only the partners who are Chartered Accountants will be authorized to act and sign on behalf of the firm.
Q. Documents required for appointment of auditor?
Company’s Board resolution copy
NOC from old auditors
A written consent from the Auditor to such appointment
A certificate from the Auditor that he/she/it is not disqualified to be appointed as an Auditor under section 141
Copy of the intimation sent by company to the auditor
Name of the new auditor firm
Address of the new auditor firm
Email address and PAN number
A number of years for which the firm is appointed
Details of the resigning auditor firm
Appointment date of the new auditor firm
Digitally signed Form ADT-1 (along with the signature of the director of the company)
Q. Will you provide this service in my town?
Yes Incorpadvisor is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done.
Q. Do I need to physically present for the process?
No, You don’t need to be physically present for the process, Incorpadvisor is an online catering platform all you need is an internet connection in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at the remotest location of India.
Still have questions?
I you can’t find answers to your questions in our FAQ section, you can always contact us. We will get back to you shortly.
