Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVI. Balance street and audit

Collection:: Economics Books

182 SECRETARIAL PRACTICE the directors fail to exercise their powers of appointing the first auditors the company in general meeting may do so [s. 132 (4)]. It is clear that ‘the first annual general meeting’ just men- tioned is not the same as the statutory meeting. Whether auditors have or have not been previously appointed as above, a company is bound to appoint an auditor or auditors at each annual general meeting, to hold office until the next annual general meeting [s. 132 (1)]. Failing any such appointment being made at any annual general meeting, any member of the company may apply to the Board of Trade, who may appoint an auditor for the current year [s. 132 (2)]. The following persons are disqualified from appointment as auditor (1) any director or officer of the company, (2) any body corporate, (3) except in the case of a private company, any person who is a partner of or in the employment of any officer of the company. A body corporate acting under an appointment made before the 3rd August, 1928, may however complete his duties under such appointment [s. 133]. If the directors or the company have previously appointed the first auditors, their names and addresses must appear in any prospectus issued on the formation of the company [s. 35 and the fourth schedule] or in the statement in lieu of pros- pectus [s. 40 and the fifth schedule]. And if before the statutory meeting the directors or the company have appointed the first auditors, their names and addresses must appear in the statutory report, and they must certify it so far as it relates to the shares allotted, to the cash received in respect of such shares, and to the receipts and payments of the company on capital account [s. 113). If there are no auditors, the directors’ certificate of the statutory report [s. 113 (3)] must suffice. The balance sheet, which is required by s. 110 to be included in the Annual Return, must have been audited by the com- pany’s auditors. As regards the appointment at an annual general meeting of new auditors in the place of existing auditors, this is provided for by s. 132 (3), the effect of which may be stated as follows: Retiring auditors may be re-elected at the annual meeting, without previous notice of intention to nominate them. Other auditors may be elected at the meeting, subject to the condition that a member must have given notice to the companv not less than fourteen davs

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