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The role of an auditor can be defined as “a person who is trained to review and to verify that the accounting data provided by the company to the auditor accurately corresponds to the activity that has been undertaken by the company.”The ultimate motive of the auditor is to give a report at the conclusion of the audit; the report should determine the level of accuracy and should give clarity that the organization has accounted for.
Read our article:An Internal Auditor: Why are they important in a Company?
Section 140 of the Companies Act, 2013 defines the procedure regarding removing the auditor of the company. As per the act, the auditor can be removed before the completion of his tenure.
If the company which has appointed the auditor is not satisfied with the service of the auditor then the appointing company can initiate the procedure for his removal as stated in section 140.
Any auditor who has been appointed as per section 139 can be removed before his tenure only after passing a special resolution and that special resolution shall be passed only after obtaining the previous approval from the Central Government.
An application for the removal of the auditor shall be filed in form ADT-2 along with the prescribed fees. This application shall be made 30 days of the passing of the resolution by the Board of Directors.
iii. Date of passing the special resolution
ADT-2 is required to be filed for obtaining the approval of the Central Government, and these forms can be filed after mentioning the date of the EGM, SRN of the MGT and the copy of the minutes of the General Meeting.
Read our article:Roles and Responsibilities of Statutory Auditor
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