First Auditor: Process to Appoint the Auditor
Introduction Every entity in charge of the business is required to perform an audit everyday, every week, every month, every six months, and every year. The Company must carry out an audit to evaluate its financial stability and to confirm that it is in compliance with all applicable laws, including those related to its annual accounts, risk policy, compliance, and other areas. A company’s first auditor must be chosen within 30 days of incorporation in compliance with section 139 of the Companies Act, 2013. Detailed information regarding the process for appointing an auditor and the first auditor for a company will be provided in this article. Objective of an Auditor of the Company The responsibility of an auditor in a company is to protect the interests of its shareholders. According to the law, the auditor is obligated to review the directors’ accounting records and inform them of the company’s actual financial situation. The auditor will show the company’s real financial status, whi