The Bank has to choose one or more people to be the auditor of a licensed deposit taker that is in resolution. You need to know that the person or people chosen must be licensed auditors, which means they meet the requirements set out in section 6(1) of the Auditor Regulation Act 2011. The Bank chooses them for up to two years, but they keep being the auditor until someone else is chosen to take their place. The person chosen as auditor can be chosen again after their term is over. They stay in the job until a new auditor is chosen, even if their two-year term is over. The Bank picks someone to be the auditor, and that person has to be good at their job and follow the rules.