Chapter 2 - Rules and Regulation

Question 1

What are the rights that enable auditors to carry out their duties?

Answer 1

Access to the company’s books and records in a timely manner
The provision of explanations when required
To receive notice of and attend general meetings and be heard at such meetings
Receive copies of written solutions

Question 2

What are the circumstances in which a person is not eligible to act as an auditor?

Answer 2

Does not form part of a recognised supervisory board
They are an officer or employee of the company
They are a business partner or employee of such a person

Question 3

What are the steps required to remove an auditor from an engagement?

Answer 3

More than 50% of the shareholders vote to agree to remove the auditor.
The auditor must be provided with 28-day notice period
Auditors are given the right to attend and speak at the general meeting on why they should not be removed