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Companies Act 1993

Accounting records and financial reporting - Miscellaneous auditing provisions

207S: Auditor's fees and expenses

You could also call this:

“How auditors are paid for their work”

When a company gets an auditor, the company needs to pay for their work. How much the auditor gets paid depends on who chose them. If you, as part of the company, picked the auditor at a meeting, you and the other people at the meeting decide how much to pay them. You can choose right then or decide how you’ll figure it out later. If the directors of the company picked the auditor, they decide how much to pay. Sometimes, a person called the Registrar might choose an auditor. In that case, the Registrar decides how much they get paid. There’s also a special auditor called the Auditor-General. If they do the audit, their pay is worked out using rules from another law called the Public Audit Act 2001.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6041594.

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“Rules for automatically reappointing a company's auditor at annual meetings”

Part 11 Accounting records and financial reporting
Miscellaneous auditing provisions

207SAuditor's fees and expenses

  1. The fees and expenses of an auditor of a company must be fixed,—

  2. if the auditor is appointed at a meeting of the company, by the company at the meeting or in the manner that the company determines at the meeting:
    1. if the auditor is appointed by the directors, by the directors:
      1. if the auditor is appointed by the Registrar, by the Registrar:
        1. if the auditor is the Auditor-General, in accordance with the Public Audit Act 2001.

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