It is a form which is to be filed to appoint an auditor for the company. An auditor is a Chartered Accountant who comply with the standards as well as perform the annual audit of the financial statements. An auditor can render auditing services either as an independent professional or as an employee.
The auditor is to be appointed by any company or LLP within 30 days of incorporation of the company and incase of failure of the board to appoint such auditor , it shall inform the members of the company who shall within 90 days at an Extra Ordinary General Meeting (EGM) appoint such auditor shall hold the office till the conclusion of the First Annual General Meeting( AGM) sec 139(6), whereas the Form- ADT-1 is to be filed within 15 days of appointment of the auditor to intimate the registrar of companies of the appointment of the auditor.
The following are the documents to be attached along with Form ADT-1:
1. A Company’s Board resolution copy.
2. A written consent from the Auditor.
3. A certificate from the auditor that he /she is not disqualified to be appointed as an auditor.
If the Form ADT-1 is not filed within the time limit then there incurs a penalty which can vary from INR 200 to INR 5000.
About Solvesto :
Founded in 2016, Solvesto is a management consulting firm providing Assurance, Taxation and Advisory services. The firm is know for its professional ethos and technical expertise and a team of highly competent professionals, we provide efficacious solutions to our client’s needs, running into deep engagements. Since businesses are inherently different, we tailor our services to meet client’s specific needs and banish the ‘one size fits all’ standardisation. We recruit, train, motivate and retain highly capable and sharpest talent, who bring quality in their work and deliver the best solutions.
The firm is Headquartered in Indore with Branches at Jaipur, Jabalpur, New Delhi , Mumbai and Pune and leverage our state of art infrastructure, wide network, best practices and people development programs.