Appointment of Auditors of Government Owned Companies
The Government has said statutory auditors for Government Companies are appointed by the Comptroller & Auditor General of India (C&AG) in exercise of the powers conferred under section 619(2) of the Companies Act, 1956 as amended vide Companies (Amendment) Act, 2000. For this purpose, a panel of firms of Chartered Accountants is maintained by the C&AG by inviting applications ‘on line’ every year from the eligible firms of Chartered Accountants. Giving this information in written reply to a question in the Rajya Sabha today Shri Salman Khurshid, Minister of Corporate Affairs, said that the eligibility criteria determined is displayed on the website of the C&AG of India i.e. www.cag.gov.in. The panel so formed is used for selection of statutory auditors of public sector undertakings for the ensuing financial year.
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