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Form ADT-1 is filed with the MCA to appoint the first auditor of a company or a new auditor in place of a retiring one. It must be filed within 30 days of the board meeting where the auditor is appointed, along with the auditor's consent.
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The first auditor must be appointed within 30 days of company incorporation. Form ADT-1 must be filed within 15 days of the board meeting where the auditor is appointed.
The board can appoint the first auditor. For subsequent appointments, the auditor is appointed at the AGM by shareholders based on the board's recommendation.
An auditor is appointed for 5 consecutive years from the first AGM. Individual auditor can serve for one term of 5 years, and an audit firm for two terms of 5 years.
Board resolution for appointment, consent letter from auditor (Form ADT-2), auditor's PAN, registration number (if audit firm), and proof of auditor's qualifications.
Late filing of ADT-1 attracts additional fees of ₹150 per day for the period of delay beyond 15 days from the board meeting date without any upper limit.
Form ADT-1 is filed by the company for appointment of an auditor, while Form ADT-2 is the consent form filled by the auditor accepting the appointment. Both forms are submitted together to MCA for auditor appointment.
Yes, the first auditor can be appointed by the Board of Directors within 30 days of incorporation. The auditor's term begins from the date of incorporation and continues until the first AGM.
Board resolution for appointment, consent letter from the auditor (Form ADT-2), auditor's PAN card, registration certificate (if audit firm), proof of auditor's membership with ICAI, and the auditor's address proof.
Yes, an auditor can be removed before the expiry of the term by passing a special resolution at a General Meeting, after obtaining prior approval from the Central Government. Form ADT-3 must be filed for removal.
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