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of <h1>Auditor Eligibility and Disqualifications Under Section 141 of the Companies Act 2013: Key Criteria and Restrictions</h1> Section 141 of the Companies Act, 2013 outlines the eligibility, qualifications, and disqualifications for auditors. Only chartered accountants or firms with a majority of qualified partners may be appointed as auditors. Disqualifications include being a corporate body (except LLPs), company officers or employees, having financial interests or business relationships with the company, and being convicted of fraud within the past ten years. Additionally, auditors cannot hold more than twenty company appointments or provide specified services to the company. If an auditor becomes disqualified after appointment, they must vacate the position, creating a casual vacancy.
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