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Companies Act 1993

Accounting records and financial reporting - Miscellaneous auditing provisions

207T: Automatic reappointment

You could also call this:

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

When a company has an annual meeting, the current auditor is automatically reappointed unless certain things happen. The auditor won’t be reappointed if they’re not qualified, if the company chooses someone else to be the new auditor, if the company doesn’t need an auditor at that meeting, or if the auditor tells the company they don’t want to be reappointed. You can find more information about when a company doesn’t need an auditor in section 207P.

If the person who is supposed to replace the current auditor dies, can’t do the job, or isn’t allowed to be appointed, then the current auditor won’t be automatically reappointed.

This rule doesn’t apply to auditors who were appointed under special circumstances, which are described in section 207P(4).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6041595.

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Part 11 Accounting records and financial reporting
Miscellaneous auditing provisions

207TAutomatic reappointment

  1. An auditor of a company, other than an auditor appointed under section 207P(4), is automatically reappointed at an annual meeting of the company unless—

  2. the auditor is not a qualified auditor; or
    1. the company passes a resolution at the meeting appointing another person to replace him or her as auditor; or
      1. the company is not required to appoint an auditor at the meeting (see section 207P); or
        1. the auditor has given notice to the company that the auditor does not wish to be reappointed.

          1. An auditor is not automatically reappointed if the person who it is proposed will replace the auditor dies, or is or becomes incapable of, or disqualified from, appointment.

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