Chapter X Audit and Auditors. CA Final CA IPCC Audit Corporate Law (Section 139 to section 148)

Eligibility, qualifications and disqualifications of auditors Section 141 Read with Rule 10 Companies (Audit and Auditors) Rules, 2014

Eligibility for appointment as an auditor
 A person shall be eligible for appointment as an auditor of a company only If he is a chartered accountant

 A firm shall be eligible for appointment as an auditor of company(appointment shall be made in the name of a firm)only if majority of partners practising in India are qualified for appointment Where a firm including a limited liability partnership is appointed as an auditor of a company, only the partners who are chartered accountants shall be authorised to act and sign on behalf of the firm.

Disqualifications of auditor The following persons shall not be eligible for appointment as an auditor of a company
 A body corporate other than a limited liability partnership.
 An officer or employee of the company.
 A person who is a partner, or who is in the employment, of an officer or employee of the company  A person who, or his relative or partner



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 AUDIT AND AUDITORS

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