Question

Under Section 139(2) of the Companies Act, 2013, an INDIVIDUAL auditor may be appointed for a term of FIVE consecutive years, but an AUDIT FIRM (a firm of auditors) may be appointed for a term of:

A Unlimited consecutive terms
B Two terms of five consecutive years each (up to ten years, subject to re-appointment after the cooling period)
C Three years in every case
D One year only
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)