Secretarial practice

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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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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVI. Balance street and audit

Collection:: Economics Books

BALANCE SHEET AND AUDIT 18; 3 before the meeting, of intention to nominate. It is then the duty of the company to send a copy of the notice to the retiring auditor, and notify the members, either by advertisement or in any other manner allowed by the articles, not less than seven days before the meeting. But if, after the shareholder’s notice has been given, a meeting is called for a date fourteen days or less after the notice has been given, the shareholder's notice is to be deemed good, and the notice by the company may be sent or given at the same time as the notice of the meeting. These provisions are intended to protect, and will protect, a retiring auditor. He will know when his re-election is to be opposed, since a proposal to appoint another auditor in his place cannot be sprung upon him and the shareholders at the general meeting without notice. Apparently, even if the directors omit to give notice, either to the retiring auditor or to the members, of the nomination of the new auditor (and there is no penalty for the neglect), he, as well as the retiring auditor, will still be eligible for election. Casual vacancies in the office of auditor may be filled by the directors, but during the continuance of the vacancy the surviving or continuing auditor or auditors (if any) may act s. 132 (5)]. As regards the remuneration of auditors, where the Board of Trade appoints, it may also fix the remuneration; where the company in general meeting appoints, it fixes the remun- aration; and where the directors appoint, .e. before the first annual general meeting, or to fill a casual vacancy, they fix ii s. 132 (6)]. The rights and duties of auditors are set out in s. 134 of the Rights and Act, and are as follows: Duties of . . Auditors. 1° The auditors shall make a report to the members on the accounts examined by them, and on every balance sheet laid before the company in general meeting during their tenure of office, anc renort shall state— ‘a) whether or not they have obtained all the informa tion and explanations they have required; and whether, in their opinion, the balance sheet referred to in the report is properly drawn up so as to exhibit a true and correct view of the state of the company’s affairs according to the best

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