The normal way or basis of charging for professional work is on the basis of the time spent on the client premises or work.
It depends on the nature of the appointment.
- Those appointed by the Board of Directors, it is the responsibility of the same Board to take care of their fees and other expenses.
- Those appointed by the shareholders, it is the responsibility of the shareholders to determine the fee.
- Those appointed by the Registrar of Companies – payment is fixed by the Registrar in consultation with the Directors.
- In case of a retiring officer payment will be done as in previous years.
- In case of extra work, they will get extra remuneration by the very employer.
- In case of illegal removal of the auditor, he is entitled to a remuneration of one full year by the employer.