Dear Professor,,
What is the difference between the 2 sentences & why the first sentence is the correct?
1) Auditors are appointed by the members every year.
2) Auditors are appointed by the BOD (Board of Directors) every year.
Who is meant by the members? I think based on my false information that members = Directors of the BOD.
Thanks So Much,,
Ask the Tutor ACCA AA
Appointment of Auditors!!
7y ago#1"Members" will generally mean "members of the COMPANY" (e.g. see page 11 of the AA notes) - i.e. the SHAREHOLDERS (assuming that the company has shares).
Directors are members of the board of directors.
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