Auditor Appointment in vadapalani - Filingpoint


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Filingpoint Auditors play a significant role in a company as they provide accurate analyses and information. They are required to understand the company's financial records and ensure compliance with Indian laws. It is also their duty to evaluate the firm's performance and suggest areas for improvement. In case of a firm like limited liability partnership (LLP) which has multiple partners, only those who are qualified to be auditors should be authorized to act and sign on behalf of the firm.

Whether you have a private or public company, the Company Act demands you to appoint the first auditor for your company within 30 days of its incorporation. The board of directors must recommend the desired professional and appoint him/her as the first auditor. However, this appointment is subject to approval of shareholders at a general meeting within 3 months of the recommendation by the board.

Intimation to ROC: The company should inform the ROC about the new appointed auditor and file Form ADT-1 within 30 days of the approval at the AGM. Also, the company must notify its existing auditors about the new appointed auditor.

The resigning auditor must submit a resignation letter informing the reason and date of his/her decision. The letter should be on the official letterhead of the resigning auditor. The resigning auditor should also provide an undertaking stating that they have resigned due to personal reasons and not because of any issues with the company. If the resigning auditor provides an insufficient explanation, then the Company may not accept his/her resignation.

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