Voluntary appointment of the Auditor to Audit Annual Accounts
The appointment of the account auditor (either in voluntary or compulsory cases) is a competence of the General Assembly, shareholders’ Body, (art. 160 b) LSC).
The appointment of the Auditor when compulsory must be done before ending the fiscal year to be audited.
When the auditing is not compulsory it is possible to appoint the auditor, once the fiscal year has concluded.
- Terms
In cases of obligatory audit, the auditor must be appointed for a period between 3 years (as minimum) and 9 yeas (as maximum), (art 264 LSC and art. 19 of the Account Auditing Law)[1].
- Registration at the Mercantile Registry
It is necessary to submit the following certificates duly legalized by a notary to the Mercantile Registry:
[1] The requirement that the appointment of the auditor must be for an initial period not less than 3 years and not longer than 9 years (art. 264.1 LSC) is related to the legal obligation of doing so (GDRN Resol. 20-06-2016).