Qualification of an Auditor:-

1) Chartered Accountant
 Chartered Accountant ordinance 1961
 Public limited company
 Private limited company ( Subsidiary of a Public company)
 Private limited company:- That has a capital of 3 million or more
 Should be a member of ICAP
 Holding Certificate of Practice.

Disqualification of Auditor:-

 According to Provisions of Section 141(3) of the Companies Act, 2013 , following persons

Shall not be eligible as auditor of the company: ‐

 Employee of another company

 Partner of the company
 Relative in the company
 Is indebted to the company or its subsidiary in excess of Rs. 5 lacs rupees.
 Was a director of the company previously
 Has given guarantee or provide any security in connection with the indebtness of
Third person to the company or its subsidiary
 Business relationship with the company Except Professional services
 Convicted by a court in fraud and a period of 10 years has not passed yet
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