In India, the appointment of an auditor for a company is governed by the Companies Act, 2013. The process of appointment of an auditor involves filing of Form ADT-1 with the Registrar of Companies (RoC) within 15 days of the appointment.
Here are the steps involved in filing Form ADT-1 for appointment of an auditor:
Hold a board meeting: A board meeting should be held to approve the appointment of the auditor and fix their remuneration.
Intimation to Auditor: The auditor should be informed in writing about their appointment and they should provide their consent in writing.
Filing of Form ADT-1: The company should file Form ADT-1 with the RoC within 15 days of the appointment of the auditor. The form should be digitally signed by a director or company secretary of the company and should include the following details:
Corporate identity number (CIN) of the company
Name and address of the company
Name and address of the auditor
Date of appointment of the auditor
Term of appointment
Remuneration of the auditor
Payment of fees: The company should pay the requisite fees for filing Form ADT-1. The fees are based on the authorised share capital of the company.
Acknowledgement: Once the Form ADT-1 is filed, the RoC will issue an acknowledgement of the filing.
In summary, Form ADT-1 is a mandatory form that needs to be filed with the RoC within 15 days of the appointment of an auditor for a company. The form includes details of the company, auditor, appointment date, term, and remuneration. It is important to follow the process carefully to ensure compliance with the Companies Act, 2013.