Statutory Audit For Franchise
The appointment of the third-party auditor by the company's directors kicks off statutory audits.Auditor appointments are made at various companies' annual general meetings (AGMs) for the purpose of the statutory audit.Until the next AGM, the appointed auditor will remain in that position.With the exception of individual and partnership firms, where the appointment period is limited to one or two terms, auditors are permitted to be appointed for a period of five years under the Companies Act of 2017.
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