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As of 10 November 2026, which candidates are disqualified under section 141(3), assuming no exemption changes the stated appointment count? A practising chartered accountant with no disqualification…

Question and options

As of 10 November 2026, which candidates are disqualified under section 141(3), assuming no exemption changes the stated appointment count?

  1. A practising chartered accountant with no disqualification
  2. An officer or employee of the company
  3. A chartered accountant already holding 21 appointments that count toward the statutory ceiling

  1. Responses 2 and 3 only

  2. Response 1 only

  3. Response 3 only

  4. Response 2 only

Answer and explanation

Correct answer: A - Responses 2 and 3 only

Section 141(3)(c) of the Companies Act, 2013 disqualifies an officer or employee of the company, and section 141(3)(g) disqualifies a person who at the date of appointment already holds appointment as auditor of more than twenty companies, excluding one person, dormant, small and certain private companies. A practising chartered accountant with no disqualification is eligible under section 141(1).

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