A company’s first auditor was appointed under section 139(6) of the Companies Act, 2013 within thirty days of registration. Which body does the proviso to section 142(1) empower to fix that…
Question and options
A company’s first auditor was appointed under section 139(6) of the Companies Act, 2013 within thirty days of registration. Which body does the proviso to section 142(1) empower to fix that auditor’s remuneration?
The Central Government
The board of directors
The members in general meeting
The audit committee
Answer and explanation
Under section 139(6) of the Companies Act, 2013 the board appoints the first auditor of a non-government company within thirty days of registration, and the proviso to section 142(1) lets the board fix the remuneration of a first auditor so appointed. For other auditors the remuneration is fixed by the company in general meeting or as it determines.
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