| Commentary

32.2 Public companies

| Commentary

32.2 Public companies

The auditor or auditors of a public company will hold office in accordance with the terms of their appointment although the Companies Act 2006 requires them not to take office until the previous auditor or auditors have ceased to hold office1. The auditors will cease to hold office at the conclusion of the next accounts meeting following their appointment, unless they are reappointed2. Where the public company is also a public interest entity3, the terms of appointment of an auditor or auditors are subject to the additional requirement that the auditor or auditors must cease to hold

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