Multiple choice

What is the rotation period prescribed under the New Companies Act for auditors?

  1. Individual & firm - 5 years

  2. Individual - 5 years & firm - 10 years

  3. Individual & firm - 10 years

  4. Individual - 10 years & firm - 15 years

  5. Individual & firm - 15 years
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

As per Section 139 of Companies Act, 2013, individual auditor has to retire by rotation in 5 years and the firm has to retire by rotation in 10 years.

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