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REMUNERATION OF AUDITORS [Section 224(8)]

Written by ravi vyas on . Posted in AN OVERVIEW RELATING TO AUDIT UNDER THE COMPANIES ACT,1956


The Board fixes the remuneration of the First Auditors. Where the auditor is appointed or re-appointed by the general meeting, the remuneration is fixed by the general meeting, or it may be fixed in any manner as determined by a general meeting. Where Central Government is approached for appointing the auditor, the Government fixes the remuneration.(This power of the Central Government is delegated to the Regional Director)

The remuneration fixed for an auditor is inclusive of all expenses allowed to him so that he cannot claim any amount additional to the remuneration fixed either as expenses or otherwise.

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