TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rules for Auditor Rotation: Audit Committee's Role, Five-Year Break, and No Network Ties with Outgoing Auditors</h1> The Companies (Audit and Auditors) Rules, 2014, outline the procedure for rotating auditors upon the expiration of their term. An Audit Committee recommends a new auditor to the Board, which then considers this recommendation or directly makes a decision in the absence of such a committee. The period an auditor has served before the Act is considered for calculating the rotation period. Incoming auditors cannot be associated with outgoing ones under the same network. A five-year break fulfills the rotation requirement. Joint auditors should not complete their terms simultaneously. Specific illustrations guide the maximum term duration for individual auditors and audit firms.
TaxTMI 
TaxTMI 
