[vc_row][vc_column][vc_single_image image=”1114″ img_size=”full” alignment=”center”][vc_custom_heading text=”Appointing an Auditor” font_container=”tag:h1|font_size:36|text_align:left|line_height:1.3″ use_theme_fonts=”yes”]
The auditor will hold its position until the company\u2019s annual general meeting (AGM), held once a year. During the meeting, discussion regarding the appointment of a new auditor or re-appointing the current entity should be made. Upon the new appointment, the new or existing auditor will hold office until the next AGM, and so on.<\/p>\n
Alternatively, the company may request for the Registrar to appoint an auditor for them instead.[\/vc_column_text]
Auditors should be allowed access to the company’s accounting records, or any information required for auditing purposes.[\/vc_column_text]
Private companies<\/a> are considered \u2018small\u2019 if they satisfy any 2 of the criteria below:<\/p>\n Small companies that act as a subsidiary to a parent company, are only exempted from audit requirements if they are classified as a \u201csmall group\u201d.<\/p>\n To be classified as a \u201csmall group\u201d, the company must satisfy any 2 of the criteria below for 2 consecutive financial years before the current financial term:<\/p>\n [\/vc_column_text] A company is considered dormant if there are no accounting transactions and will no longer be considered so once a transaction occurs.<\/p>\n The following below are not considered accounting transactions:<\/p>\n [\/vc_column_text]\n
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