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of <h1>Company auditor appointments and disqualifications: only chartered accountants allowed; Section 141/144 conflict rules; disqualified auditors must vacate office</h1> Appointment as a company auditor is restricted to a chartered accountant, including a firm (including an LLP) whose majority of partners practising in India are so qualified, and where a firm is appointed only its chartered accountant partners may act and sign. Disqualification is prescribed for bodies corporate (other than an LLP), company officers or employees and their partners/employees, and persons whose relative or partner holds prescribed securities/interest, exceeds prescribed indebtedness, or has provided prescribed guarantees/security in relation to the company group. Further disqualifications apply to specified business relationships, specified relationships to directors or key managerial personnel, full-time employment elsewhere, exceeding the limit of auditing more than twenty companies, fraud conviction within ten years, and rendering services referred to in section 144. On incurring any disqualification post-appointment, the auditor must vacate office, creating a deemed casual vacancy.
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