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Hi
In my Kaplan learning text in says ‘arrangements for removing the auditor have to be structured in such a way that the auditor has sufficiently secure tenure of office, to maintain Independence of management’ I have no idea what this means
Can you help?
thank you
It means that their removal has to be approved by shareholders so that managememt cannot simply sack auditors who might be too good.
Auditors must also file a,statement of circumstance with the registrar of companies exclaiming the circumstances of their removal and thye can address members at the AGM.
See P17 of our notes and lectures.
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