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Change Of Auditor

An alternative method of changing the auditor is through the resignation of the existing auditor. To resign, the auditor must submit a formal resignation letter to the Board of Directors. Additionally, the resigning auditor is required to file Form ADT-3 within 30 days of the resignation date, providing the reasons for stepping down and any relevant details pertaining to the decision.

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Why Should I Use Auriga Accounting of Change Of Auditor ?

Auriga Accounting has a team of registration experts who can provide complete guidance to Change Of Auditor.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Event Based Compliance

Complete your Event Based Compliance

Complete Your File Change Of Auditor

Overview
Resignation
Contents
Fees
Procedure

OVERVIEW - Change Of Auditor

What is Annual Compliance For a One person Company?

Section 140(2) of the Act outlines the procedure for an auditor’s resignation. It mandates that the auditor must submit a statement of resignation, as prescribed in the Rules, to the Registrar within 30 days from the date of resignation. In the case of a Government Company or a Government-owned company, the auditor must also file this statement with the Comptroller and Auditor-General of India.

The resignation statement must clearly state the reasons for resigning along with any relevant details. Timely intimation to the Registrar is crucial, as failure to do so attracts penalties under the Act.

If an auditor fails to file the resignation statement, they are subject to a penalty of ₹50,000 or an amount equal to their remuneration, whichever is lower. In case of continued non-compliance, an additional penalty of ₹500 per day will be levied, up to a maximum of ₹5 lakh.

Resignation of Auditor - Change Of Auditor

An existing auditor may resign by submitting a formal resignation letter to the Board of Directors. Upon resignation, the auditor must file Form ADT-3 within 30 days from the date of resignation, providing the reasons for stepping down and any other relevant details regarding the decision.

Change Of Auditor: To ensure compliance with the Companies Act, 2013, companies must rotate or change auditors periodically every five years. In such cases, a special notice is required, explicitly stating that the retiring auditor shall not be reappointed. This notice is presented at the Annual General Meeting (AGM) when appointing a new auditor. The retiring auditor has the right to submit a written representation to the company, either accepting the change or contesting it, as applicable.

Contents of Application (Form ADT-3) of Change Of Auditor

The resigning auditor must provide the following details while filing Form ADT-3:

  • Corporate Identification Number (CIN) of the company
  • Company details, including name, registered address, and email ID
  • Auditor category, specifying whether the auditor is an individual or a firm
  • Income Tax PAN of the auditor or the auditor’s firm
  • Membership number of the auditor or the auditor’s firm
  • Auditor’s contact details, including address, city, state, pin code, and email ID

Reasons for resignation, along with any other relevant facts related to the resignation

Fees for Filing Form ADT-3 or Change Of Auditor

The auditor must pay the prescribed fee when submitting Form ADT-3. The fee amount depends on the company’s nominal share capital, as specified by the Ministry of Corporate Affairs (MCA):

Nominal Share Capital

Applicable Fee

Less than ₹1,00,000

₹200

₹1,00,000 to ₹4,99,999

₹300

₹5,00,000 to ₹24,99,999

₹400

₹25,00,000 to ₹99,99,999

₹500

₹1,00,00,000 or more

₹600

Procedure for an Change Of Auditor

The resignation process for an auditor involves the following steps:

  1. The auditor must submit a resignation letter along with Form ADT-3 to the company and the Registrar of Companies (ROC).
  2. The company will convene a board meeting with all directors to formally acknowledge and process the resignation.

To appoint a new auditor, the company must obtain a consent letter from the proposed auditor or audit firm, ensuring compliance with Sections 139 and 141 of the Companies Act, 2013.

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