<\/span><\/h3>\n\n\n\n1. Within how many days must a new company appoint its first auditor?<\/strong>
The Board must appoint the first statutory auditor within 30 days of incorporation under Section 139(6). If the Board misses this, members must be informed and appoint the auditor at an EGM within 90 days of that failure.<\/p>\n\n\n\n2. What is Form ADT-1?<\/strong>
Form ADT-1 is the RoC form used to notify an auditor’s appointment. It must be filed within 15 days of the appointment, with the Board resolution, the auditor’s consent and the appointment letter attached.<\/p>\n\n\n\n3. Can a foreign national or NRI sign Form ADT-1?<\/strong>
Yes, if the signatory is a director or authorised person holding a valid digital signature certificate. NRIs and foreign directors typically obtain a DIN and DSC first, or authorise a resident representative to complete the filing.<\/p>\n\n\n\n4. How long does the first auditor hold office?<\/strong>
The first auditor holds office until the conclusion of the first AGM. At that meeting, shareholders appoint an auditor for a five-year term under Section 139(1), and a fresh ADT-1 is filed for that appointment.<\/p>\n\n\n\n5. Can the parent company’s auditor audit the Indian subsidiary?<\/strong>
Only if the person is an Indian-qualified Chartered Accountant eligible under Section 141 and meets the independence rules. Foreign audit firms without a certificate of practice in India cannot sign the statutory audit report.<\/p>\n","protected":false},"excerpt":{"rendered":"Your parent company has just completed company formation in India, and the Certificate of Incorporation is in hand. A short statutory clock now starts running. To appoint statutory auditor for foreign subsidiary entities correctly, the Board must act within 30 days of incorporation and then report the appointment to the Registrar of Companies (RoC) through […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9721","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/posts\/9721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/comments?post=9721"}],"version-history":[{"count":1,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/posts\/9721\/revisions"}],"predecessor-version":[{"id":9723,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/posts\/9721\/revisions\/9723"}],"wp:attachment":[{"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/media?parent=9721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/categories?post=9721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/startupsolicitors.com\/blog\/wp-json\/wp\/v2\/tags?post=9721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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