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What are the provision of law regarding the appointment , removal , disqualifications and remuneration of company auditor?
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What are the provision of law regarding the appointment , removal , di...
**Provisions of Law Regarding the Appointment, Removal, Disqualifications, and Remuneration of Company Auditor**

**Appointment of Company Auditor:**
- According to the Companies Act, 2013, every company is required to appoint an auditor within 30 days from the date of incorporation.
- The appointment of an auditor is done by the shareholders of the company in the Annual General Meeting (AGM) for a term of five consecutive years.
- The auditor must be a Chartered Accountant and should hold a valid certificate of practice.

**Removal of Company Auditor:**
- The removal of a company auditor can be initiated by the company itself or by the National Financial Reporting Authority (NFRA).
- The company can remove the auditor by passing a special resolution in the General Meeting, subject to obtaining prior approval from the Central Government.
- The NFRA can remove the auditor if it finds any professional or other misconduct by the auditor.

**Disqualifications of Company Auditor:**
- The Companies Act, 2013 provides certain disqualifications for the appointment or continuance of an auditor. Some of the disqualifications include:
- If the auditor or his/her relative is a director or key managerial personnel of the company.
- If the auditor or his/her firm is indebted to the company.
- If the auditor or his/her firm has any business relationship with the company.
- If the auditor has been convicted of any offense involving fraud or dishonesty.

**Remuneration of Company Auditor:**
- The remuneration of the company auditor is determined by the shareholders in the Annual General Meeting.
- The remuneration can be fixed by passing an ordinary resolution.
- The remuneration must be reasonable and commensurate with the services rendered by the auditor.
- The auditor is entitled to receive fees for the audit work as well as for other services rendered, subject to compliance with the relevant provisions of the Companies Act, 2013.

In conclusion, the Companies Act, 2013 provides provisions for the appointment, removal, disqualifications, and remuneration of company auditors. The appointment is done by the shareholders in the AGM, removal can be initiated by the company or the NFRA, and disqualifications exist to ensure the independence and integrity of auditors. The remuneration of auditors is determined by the shareholders and must be reasonable and commensurate with the services provided.
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What are the provision of law regarding the appointment , removal , disqualifications and remuneration of company auditor?
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