Company Law - Rotation of statutory Auditors
Posted By :
SATHYA THULASI /
Published on :
03-Dec-2024 12:21 PM /
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8 /
Comment :
1
Dear Professionals,
A private limited company had appointed CA firm as Statutory Auditors on 2014. Till now the firm is doing audit for the company. The borrowings of the company exceeds Rs 52 crores on October 2024. The term of Auditors firm is upto Sep 2025.
The borrowings trigger on October, the rotation of auditors is applicable. Kindly clarify if the firm can continue upto 2025 and can be reappointed for other term of five years or they have to quit from 2025?
Kindly assist in this regard.
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company rotation statutory auditors
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