Section 142 — Remuneration of auditors
(1) The remuneration of the auditor of a company shall be fixed in
its general meeting or in such manner as may be determined therein:
Provided that the Board may fix remuneration of the first auditor appointed by it.
(2) The remuneration under sub-section (1) shall, in addition to the fee paya ble to an auditor, include
the expenses, if any, incurred by the auditor in connection with the audit of the company and any facility
extended to him but does not include any remuneration paid to him for any other service rendered by him
at the request of the company.
1. Subs. by Act 1 of 2018, s. 42, for clause (i) (w.e.f. 9-2-2018).
Related sections
- Section 139 — Appointment of auditors
- Section 140 — Removal, resignation of auditor and giving of special notice
- Section 141 — Eligibility, qualifications and disqualifications of auditors
- Section 143 — Powers and duties of auditors and auditing standards
- Section 144 — Auditor not to render certain services
- Section 145 — Auditor to sign audit reports, etc
- Section 146 — Auditors to attend general meeting
- Section 147 — Punishment for contravention
- Section 148 — Central Government to sp ecify audit of items of cost in respect of certain companies