Miss
MIDLANDS STATE UNIVERSITY
FACULTY OF COMMERCE
DEPARTMENT OF ACCOUNTING
LEVEL 2:1
NAME SURNAME REG # M.O.E
NKOSILATHI NDLOVU R104613Z CDP
LILIOSA KANDIGA R104516R CDP
PRIMROSE MARUFU R102953A PDP
EVERJOY CHADADA R102719C CDP
PRISCA TOFARIREPI R103903X CDP
NORLING MOMBEYARARA R102774H PDP
LECTURER: MR KAZEMBE
PRESENTATION:
THE AUDITOR * Appointment of Auditors * Remuneration of Auditors * Qualification for appointment as Auditor * Eligibility for appointment * Ensuring independence of Auditors * Recognized supervisory bodies
APPOINTMENT OF AUDITORS
The statutory provisions deal with the appointment of an auditor by two categories of a company that is public and other companies. In the case of the public company, the auditor must be appointed by the directors within one month of issue of certificate that a company is entitled to commence business.
The other companies shall appoint their auditor within one month of the issue of the certificate of incorporation. This is evidenced in the companies act S150 (1). If directors fail to appoint the first auditor, the auditor is then appointed by the members of the company in the Annual General Meeting (AGM) S150 (1) (ii). An auditor so appointed shall hold office till the conclusion of the first Annual General Meeting (AGM). The company shall at each AGM appoint the auditor to hold office from the conclusion of that meeting until the conclusion of the next AGM. This is according to S150 (2).
If neither the board of director nor the company appoints the auditor the minister may on the application of the member do so as in S150 (1) (iii). The nomination of the substitute auditor shall be made by special notice by a member of the company to the other members not less than fourteen days before the date of the meeting. This is according S150 (1) (I).
According to S150(3) if an annual general meeting fails to appoint or re-appoint an auditor the minister may appoint a
FACULTY OF COMMERCE
DEPARTMENT OF ACCOUNTING
LEVEL 2:1
NAME SURNAME REG # M.O.E
NKOSILATHI NDLOVU R104613Z CDP
LILIOSA KANDIGA R104516R CDP
PRIMROSE MARUFU R102953A PDP
EVERJOY CHADADA R102719C CDP
PRISCA TOFARIREPI R103903X CDP
NORLING MOMBEYARARA R102774H PDP
LECTURER: MR KAZEMBE
PRESENTATION:
THE AUDITOR * Appointment of Auditors * Remuneration of Auditors * Qualification for appointment as Auditor * Eligibility for appointment * Ensuring independence of Auditors * Recognized supervisory bodies
APPOINTMENT OF AUDITORS
The statutory provisions deal with the appointment of an auditor by two categories of a company that is public and other companies. In the case of the public company, the auditor must be appointed by the directors within one month of issue of certificate that a company is entitled to commence business.
The other companies shall appoint their auditor within one month of the issue of the certificate of incorporation. This is evidenced in the companies act S150 (1). If directors fail to appoint the first auditor, the auditor is then appointed by the members of the company in the Annual General Meeting (AGM) S150 (1) (ii). An auditor so appointed shall hold office till the conclusion of the first Annual General Meeting (AGM). The company shall at each AGM appoint the auditor to hold office from the conclusion of that meeting until the conclusion of the next AGM. This is according to S150 (2).
If neither the board of director nor the company appoints the auditor the minister may on the application of the member do so as in S150 (1) (iii). The nomination of the substitute auditor shall be made by special notice by a member of the company to the other members not less than fourteen days before the date of the meeting. This is according S150 (1) (I).
According to S150(3) if an annual general meeting fails to appoint or re-appoint an auditor the minister may appoint a