Audit Compliance · Panaji, Goa
Statutory auditor rotation in Goa under Section 139(2) — tracking terms, cooling-off periods and the appointment of a new auditor for listed and prescribed companies, all filed on time.
Overview
Listed companies and certain classes of companies must rotate their statutory auditors after the maximum term. Missing the rotation timeline, or reappointing within the cooling-off period, breaches Section 139(2) and exposes the company to penalties.
We assess whether rotation applies to you, track the remaining term, manage the cooling-off rules and handle the appointment of the incoming auditor with the required filings.
What's covered
Applicability, term tracking and a clean transition.
Get a fixed-fee quote →Whether mandatory rotation applies to your company.
Counting the auditor's completed and remaining terms.
Applying the five-year gap before any reappointment.
Coordinating the change of auditor smoothly.
Appointing the incoming auditor under Section 139.
Filing the new auditor's appointment with the MCA.
Our process
We confirm if rotation applies and when.
We map terms and the cooling-off period.
We arrange the new auditor's appointment.
We file Form ADT-1 for the change.
Frequently asked questions
Auditor rotation is the requirement under Section 139(2) for certain companies to change their statutory auditor after a maximum term, so the same auditor or firm does not audit the company indefinitely. It is intended to support independence.
Mandatory rotation applies to listed companies and to prescribed classes such as certain unlisted public and private companies above specified capital or borrowing thresholds. We confirm whether your company falls within these classes.
Subject to the rules, an individual auditor may hold office for one term of five consecutive years, and an audit firm for up to two terms of five consecutive years, before rotation is required. The exact application depends on the company's history.
After completing the maximum term, the outgoing auditor or firm cannot be reappointed for the company for a period of five years. This cooling-off gap is central to how rotation is planned.
Yes. In computing the term for rotation, the years for which the auditor or firm has already held office before the rotation provisions applied are generally taken into account, which is why an accurate term history matters.
When a new auditor is appointed in place of the outgoing one, the company appoints the incoming auditor under Section 139 and files Form ADT-1 with the Registrar to record the appointment within the prescribed time.
Book a free consultation and share your company and audit history. We assess applicability, plan the rotation and cooling-off, and handle the new appointment and ADT-1 filing, on a transparent fee.
Related services
Book a free consultation with a qualified Chartered Accountant in Goa. We'll track your terms and cooling-off and manage the change of auditor on time — no obligation.