With the evolution of the dynamic business environment, there can be growth as well as downfall of the company. Auditing in a business activity is very important. There should be experts engaged for the work of auditing as it should have the best level of professionalism. According to the First Companies Act, 1913, there should be audits of the company. The company audits helps in digging out the real scenario of the company. The auditing of the companies make things clear and people can work out on the issues which are not working with the utilization of the available resources.
Kanoonvala.com audit services will assist you with the best team experts with the best solutions for your corporate issues.
QusWhat is the work of the Auditor?
AnsFor any company, it is important to appoint an individual or firm as an auditor at first annual general meeting (AGM). The auditor will have to hold office from the conclusion of that meeting till the conclusion of the sixth (6th) Annual General Meeting (AGM). The duration of auditor of company will be term of consecutive Five (5) years each for Individual and Two terms of Consecutive Five (5) years in case of Auditor Firm.
QusWhen do we need the Auditor?
If you a service provider like the Doctors etc. with turnover of more than 15 lacs per year
If you own a Private Limited Company
Other businesses with turnover of greater than 1 Crore.