CA Bigyan Kumar Mishra

If you run a company in India, one professional you will regularly deal with is the auditor. An auditor checks the company’s financial records and ensures that accounts are presented honestly. But sometimes situations change. A company may want to remove its auditor before the term ends. In other cases, the auditor may decide to resign. This is where Section 140 of the … [Read more...] about Removal and Resignation of Auditor Under Companies Act 2013: Simple Guide for Beginners

If you have ever looked at a company’s financial statements, you may have noticed that an auditor signs the report. That signature tells investors and regulators that the company’s financial numbers were checked properly. But a natural question comes up: Who checks the auditors themselves? In India, that responsibility largely falls on the National Financial Reporting … [Read more...] about National Financial Reporting Authority (NFRA) Explained: How India Monitors Auditors and Audit Quality

A company appoints an auditor to check its financial records and confirm that the accounts are correct. Normally, this auditor continues until the next Annual General Meeting (AGM). But sometimes something unexpected happens. For example: When the auditor’s position becomes empty before the normal end of their term, it creates what company law calls a casual … [Read more...] about Casual Vacancy of Auditor Explained Simply: How Companies Fill Auditor Vacancies in India

Imagine a company that is owned or controlled by the government. Since public money is involved, the government wants to ensure that every rupee is accounted for properly. This is where the Comptroller and Auditor General of India (CAG) comes into the picture. In government companies, the process of appointing auditors and reviewing financial statements is different from … [Read more...] about Auditor of Government Companies in India: Appointment, CAG Role & Audit Process Explained Simply

Imagine a company using the same auditor for many years. At first it may seem comfortable because the auditor already understands the company’s books. But over time, this can reduce independence. To avoid this situation, Indian company law requires rotation of auditors after a certain period. Under the Companies Act, 2013, certain companies must change their auditors after a … [Read more...] about Rotation of Company Auditor Under the Companies Act, 2013 – Simple Guide for Beginners in India

If you start a company in India, one of the early formalities is appointing an auditor. Many beginners hear this word during company registration but feel unsure about what it actually means. An auditor is a professional who checks whether a company’s financial records are correct and properly maintained. This article explains how auditors are appointed in Indian companies, … [Read more...] about Starting a Private Limited Company in India? Here’s How Auditor Appointment Actually Works