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207P: Auditor must be appointed if financial statements must be audited
or “You must appoint an auditor if your company's financial statements need to be checked”
You could also call this:

“Registrar can choose an auditor if a company doesn't appoint one”

The Registrar can appoint an auditor for a company in two situations. First, if no auditor is appointed or reappointed at the company’s annual meeting as required by section 207P. Second, if a casual vacancy in the auditor position isn’t filled within one month, and the company needs to follow section 207P.

If the Registrar can appoint an auditor, the company must tell the Registrar in writing within 5 working days. If the company doesn’t do this, it’s breaking the law. The company can be punished as set out in section 373(2). Also, every director of the company can be punished as set out in section 374(2).

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Next up: 207R: Resignation and casual vacancy

or “How auditors can resign and how companies should handle their departure”
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Part 11 Accounting records and financial reporting
Miscellaneous auditing provisions

207QRegistrar may appoint auditor

  1. The Registrar may appoint an auditor if,—

  2. at an annual meeting of a company, no auditor is appointed or reappointed as required by section 207P; or
    1. a casual vacancy in the office of auditor is not filled within 1 month of the vacancy occurring and the company is required to comply with section 207P.

      1. A company must, within 5 working days of the power becoming exercisable, give written notice to the Registrar of the fact that the Registrar is entitled to appoint an auditor under this section.

      2. If a company fails to comply with subsection (2),—

      3. the company commits an offence and is liable on conviction to the penalty set out in section 373(2); and
        1. every director of the company commits an offence and is liable on conviction to the penalty set out in section 374(2).

          Notes
          • Section 207Q: inserted, on , by section 30 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).