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of <h1>Companies Must Appoint Auditors at First AGM; Listed Firms Face Term Limits Under Section Rules</h1> Every company must appoint an auditor at its first annual general meeting, who will serve until the sixth meeting, with reappointment procedures prescribed by law. Auditors must consent and provide a certificate of eligibility. Listed companies cannot appoint an individual auditor for more than five consecutive years or an audit firm for more than two such terms. Government companies have auditors appointed by the Comptroller and Auditor-General. Casual vacancies are filled by the Board or Comptroller, depending on the company type. Retiring auditors can be reappointed unless disqualified or replaced by a special resolution. Audit Committee recommendations are required for appointments.
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