Appointment of New Auditor

[Pradeep Kaushik]

Dear All,

Audit firm's tenure expired in FY 2014-15. Company do not re-appoint the existing Auditor and appoint a new auditor in AGM. But the Intimation to new auditor was delayed by 2.5 months. .

For Example:

Consent received from New Auditor - 10 Sept 2015

Board of director's Meeting - 17 Sept 2015

AGM (Appointment of New Auditor)- 30 Sept 2015

Intimation of Appointment to New Auditor- 15 Dec 2015 (There is delay for 2.5 Month for Intimation)

In this case does casual vacancy arise in the Company. Is there any impact on Audit firm and Company because of this delay.

What should be best process to avoid the mis-compliance.

Your expert opinion is requested.

With Best Regards

[Ganeshan Kalyani]

Sir, Sri Mariappan Sir, request you to share your view on the same. It will enrich my knowledge and if the visits as well. Thanks.

AI Summary

Appointment of auditor: delayed intimation after AGM raises questions on casual vacancy and compliance consequences. Delay in notifying a newly appointed auditor after an AGM may implicate the validity of the auditor's appointment and whether a casual vacancy has arisen; the practical concern is whether late intimation affects compliance and what remedial steps and procedural safeguards (timely consents, board resolutions, prompt formal intimation) should be followed to avoid regulatory or procedural consequences.