| Commentary

31.1 Private companies

| Commentary

31 Appointment of auditors

31.1 Private companies

A private company must generally appoint an auditor or auditors for each financial year of the company1. The appointment must be made before the end of the ‘period for appointing auditors’, that is the period of 28 days beginning with2:

  1. 31.1.1

        the end of the time allowed for the company to send out copies of its annual accounts and reports for the previous financial year; or

  2. 31.1.2

        the day on which those accounts and reports are actually sent, if this is earlier.

If the company fails to appoint an auditor or auditors during a period

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