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 327A   PUBLIC COMPANY AUDITOR (INITIAL APPOINTMENT OF AUDITOR)  

327A(1)    
The directors of a public company must appoint an auditor of the company within 1 month after the day on which a company is registered as a company unless the company at a general meeting has appointed an auditor.

327A(1A)    

Subsection (1) does not apply in relation to a company if:

(a) the directors reasonably believe that subsection 301(3) will apply to the company ' s financial reports; or

(b) the company is a small company limited by guarantee; or

(c) the company is covered under section 738ZI just after it is registered as a company.

327A(2)    
Subject to this Part, an auditor appointed under subsection (1) holds office until the company's first AGM.

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