CA Inter P2 · Chapter 9 · Question 1 of 11
Under section 139(1), the auditor appointed at the first annual general meeting holds office:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) From the conclusion of that meeting till the conclusion of its sixth annual general meeting
Explanation
Section 139(1) requires every company, at its first AGM, to appoint an individual or a firm as auditor to hold office from the conclusion of that meeting till the conclusion of its sixth AGM. Thereafter, the same applies at every sixth meeting. The auditor's written consent and eligibility certificate must be obtained, and the company must inform the Registrar.
More Audit and Auditors MCQs
- Q3Fern Ltd is a non-government company. Under section 139(6), its first auditor must be appointed by the Board within thirty days of…
- Q4The auditor of Willow Ltd (not audited by the CAG) resigned mid-term. Under section 139(8), the casual vacancy:
- Q5Under section 140(1), an auditor appointed under section 139 may be removed from office before the expiry of his term only by:
- Q6Which of the following is eligible for appointment as auditor of a company under section 141?
- Q7Under section 141(3)(g), a chartered accountant is disqualified from being appointed auditor of a company if, at the date of appointment…