Auditor

NotesPaper examMock

No need to appoint an auditor if..

The company meets at least two of the following:

  • Turnover less than £10.2 million

  • Balance sheet total less than £5.1 million

  • 50 or less employees

Appointment of an Auditor

Annually at the AGM by ordinary resolution 

(unless AGM dispensed with - then automatically reappointed)

Duties of an auditor

  1. Opinion on Truth and Fairness of the Financial Statements

  2. State accounts have been properly prepared, and if directors' report is consistent with them

  3. To make investigations to give an opinion

  4. To report on consistency of summary financial statements circularised

Powers of the auditor

  1. The right to access at all times, the company's books and accounts

  2. To get all information and explanations they consider necessary

  3. To receive copies of all proposed resolutions

  4. To attend general meetings

  5. To resign at any time

NotesPaper examMock