Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 6 - Appointment, removal and fees of auditors for companies  

Note: This Division does not apply in relation to a CCIV. Instead, section 1232R applies a modified version of Division 7 to a retail CCIV.

Subdivision A - Appointment of company auditors  

SECTION 327C   PUBLIC COMPANY AUDITOR (APPOINTMENT TO FILL CASUAL VACANCY)  

327C(1)    
If:

(a) a vacancy occurs in the office of auditor of a public company; and

(b) the vacancy is not caused by the removal of an auditor from office; and

(c) there is no surviving or continuing auditor of the company;

the directors must, within 1 month after the vacancy occurs, appoint an auditor to fill the vacancy unless the company at a general meeting has appointed an auditor to fill the vacancy.

Note: Certain public companies are not required to appoint an auditor: see subsections 327A(1A) and 327B(1A) .

327C(2)    
An auditor appointed under subsection (1) holds office, subject to this Part, until the company's next AGM.

327C(3)    
A director of a public company must take all reasonable steps to comply with, or to secure compliance with, subsection (1).