Filing ADT-1

Introduction

The ADT-1 form serves as the official notification to the Registrar of Companies regarding the appointment of the inaugural auditor for a company. As per the Companies Act 2013, it is imperative for every newly incorporated company to designate its first auditor within thirty days of its establishment. Following the appointment, submission of Form ADT-1 to the ROC is mandated within fifteen days. The initially appointed auditor remains in office until the inaugural Annual General Meeting (AGM), scheduled within nine months from the fiscal year's conclusion in which the company was incorporated. During the AGM, shareholders possess the authority to either confirm the first auditor's appointment or select a new one. Although the process of appointing an auditor for the first time may seem daunting, adherence to the Companies Act's stipulations is indispensable to pre-empt any legal repercussions. Non- compliance, including failure to file Form ADT-1, may result in punitive measures and financial penalties. At ProMunim of India, we specialize in facilitating the seamless filing of Form ADT-1, ensuring your company's compliance with statutory requirements for auditor appointment.

When submitting Form ADT-1

for the appointment of the auditor, you typically need to provide the following details about the auditor:

• Name of the Auditor:Provide the full name of the auditor being appointed by the company. PAN (Permanent Account Number) of the Auditor: The auditor's PAN card number is required for identification purposes.
• IMembership Number (if applicable):If the auditor is a member of a professional accounting body such as the Institute of Chartered Accountants of India (ICAI), their membership number should be provided.
• Firm Registration Number (if applicable):If the auditor is a firm, the firm's registration number with the relevant professional body should be provided.
• Address of the Auditor/Firm:The complete postal address, including city, state, and PIN code, should be provided for the auditor or auditing firm.
• Email Address and Contact Number:Contact details such as email address and phone number should be provided for communication purposes.
• Date of Appointment:Specify the date on which the auditor is appointed by the company.
• Details of Resolution:Include details of the resolution passed by the board of directors or shareholders appointing the auditor, such as the date of the resolution and the agenda item.
• Signature:The form may require the signature of the authorized signatory of the company, certifying the accuracy of the information provided.

Form ADT-1:

Form ADT-1 is governed by Section 139 of the Companies Act, 2013, and Rule 4 of the Companies (Audit and Auditors) Rules, 2014. This section and rule outline the requirements and procedures for appointing auditors, including the submission of Form ADT-1 to the Registrar of Companies (ROC). Additionally, Section 149 of the Companies Act, 2013, specifies the qualifications and disqualifications for auditors, which are relevant when appointing auditors and completing Form ADT-1. These legal provisions ensure transparency and accountability in the appointment of auditors for companies in India.

Requirement:

• Timely Filing:Form ADT-1 must be filed with the Registrar of Companies (ROC) within fifteen days from the date of appointment of the first auditor.
• Accurate Information:The form must contain accurate and complete information regarding the auditor being appointed, including their name, PAN (Permanent Account Number), address, membership number (if applicable), and firm registration number (if applicable).
• Details of Resolution:The form should include details of the resolution passed by the board of directors or shareholders appointing the auditor, including the date of the resolution and the agenda item.
• Digital Signature:Form ADT-1 must be digitally signed by a director, manager, or company secretary of the company, certifying the accuracy of the information provided.
• Compliance with Legal Requirements:Ensure compliance with all legal requirements stipulated in the Companies Act, 2013, and associated rules regarding the appointment of auditors and filing of Form ADT-1.
• Documentation:Maintain proper documentation of the resolution appointing the auditor and any other relevant documents related to the appointment process.
• Verification of Auditor's Consent:Ensure that the appointed auditor has consented to their appointment and has signed the necessary documents confirming their acceptance of the appointment.

Frequently Asked Questions