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      Question

      What is the tenure for which an auditor can be appointed

      as per the Companies Act?
      A For a total term of fifteen years Correct Answer Incorrect Answer
      B An individual as auditor for one term of five consecutive years Correct Answer Incorrect Answer
      C An audit firm as auditor for two terms of five consecutive years Correct Answer Incorrect Answer
      D Either a or b or c Correct Answer Incorrect Answer
      E Both b & c Correct Answer Incorrect Answer

      Solution

      Section 139.Appointment of auditors: (2) No listed company or a company belonging to such class or classes of companies as may be prescribed, shall appoint or re-appoint— (a) an individual as auditor for more than one term of five consecutive years; and (b) an audit firm as auditor for more than two terms of five consecutive years.

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