| Commentary

29 Functions and rights of auditors

| Commentary

C: AUDITORS

29 Functions and rights of auditors

A company’s annual accounts for a financial year must be audited in accordance with the Companies Act 2006 unless the company is exempt from audit, for example because it is a small company, a qualifying subsidiary or a dormant company1. Every company which is required to have its accounts audited is also required to appoint an auditor2. The primary function of auditors is to make a report to the members on the accounts either sent out to the members (private company) or laid before the company in general meeting (public company)3, and also

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