Appoint your statutory auditor and file ADT-1 on time.
Every company is required to appoint a statutory auditor to examine and report on its financial statements. The first auditor must be appointed by the board within 30 days of incorporation, and subsequent auditors are appointed by the shareholders at the Annual General Meeting, usually for a term of five years. The appointment is reported to the MCA by filing Form ADT-1. Choosing a qualified Chartered Accountant as auditor and filing ADT-1 within the prescribed time is a key compliance step — failure to appoint an auditor or file the form attracts penalties and flags the company as non-compliant.
All companies — at incorporation, at each AGM, and when filling a casual vacancy.
Timelines and government fees are indicative and subject to processing by the relevant authority. Approval and its timing are decided by the authority and cannot be guaranteed.
Within 30 days of incorporation by the board of directors.
Usually for a five-year term, ratified as required, and reported via ADT-1.
Late filing attracts additional MCA fees and marks the company as non-compliant.
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