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  

Subdivision A - Appointment of company auditors  

SECTION 325   APPOINTMENT OF AUDITOR BY PROPRIETARY COMPANY  

325(1)  
The directors of a proprietary company may appoint an auditor for the company if an auditor has not been appointed by the company in general meeting.

325(2)  


The directors of a proprietary company must ensure that there is an auditor for the company at all times during the period:


(a) starting 1 month after:


(i) the time the company first raises a total equal to or exceeding the CSF audit threshold from all the CSF offers it has ever made; or

(ii) if the period starting because of subparagraph (i), or because of an earlier operation of this subparagraph, has ended - the time the company makes a later CSF offer; and


(b) when the company ceases to have any CSF shareholders at a later time in a particular financial year - ending when the company ' s financial report for that financial year has been audited.

325(3)  


However, subsection (2) does not apply for any period of 1 month or less starting when a vacancy occurs in the office of auditor of the company (however that vacancy is caused).

325(4)  


A director of a company must take all reasonable steps to comply with, or to secure compliance with, subsection (2).

View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.