Audit and auditors

Corporate & Other Laws

If a firm is appointed and an auditor hasn’t completed his 5yrs of tenure and left that firm and joined another firm. Will the other firm be eligible for appointment as an auditor?

Sugam SM

CA Final

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28-Apr-23 12:00

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Answers (6)

Reetikaa R

CA Final

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28-Apr-23 13:42

Thread Starter

Sugam SM

CA Final

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28-Apr-23 15:42

Yes firm can be appointed in case of casual vacancy. There is no restriction in the act with regards to this.

CA YOGITA HARJANI

Faculty

28-Apr-23 16:51

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Thread Starter

Sugam SM

CA Final

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28-Apr-23 20:53

Mam here it is given its ineligible.

Thread Starter

Sugam SM

CA Final

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28-Apr-23 20:54

The answer in the image is right. It was unclear from your words as to the exact question you were asking. Please Ignore my earlier remarks as I explained from a different perspective. In case an auditor retires from one firm and joins another firm and this auditor has completed his tenure, then that new firm cannot be appointed as auditor for 5 years of cooling period.

CA YOGITA HARJANI

Faculty

28-Apr-23 21:41