Audit under CAMA 2020: sections 401 to 416
Chapter 15 covers the appointment, removal and rights of auditors, and the audit exemption for small companies.
Chapter 15 of Part B has 16 sections. Every section is listed below with its title.
Guides in this chapter
Key rules in this chapter
- A company is exempt from audit if it has done no business since incorporation or is a small company (section 402(1)).
- The exemption does not apply to a company that was an insurance company or a bank during the year (section 402(2)).
- Auditors are appointed at each annual general meeting to hold office until the next (section 401).
Previous: Chapter 14: Accounts and financial statementsNext: Chapter 16: Annual returns and dividends
Source: the Companies and Allied Matters Act 2020 as published in the Official Gazette.