The Appointment of Auditor Board Resolution is a crucial corporate governance document required under Malaysian law. It is used when a company needs to appoint or replace its external auditor, as mandated by the Companies Act 2016. This document becomes necessary in several situations: when incorporating a new company, when the existing auditor resigns or retires, or when the company decides to change auditors. The resolution must be passed at a valid board meeting and should detail the appointed auditor's credentials, terms of service, and remuneration. It serves as official evidence of proper corporate governance and compliance with Malaysian regulatory requirements, particularly important for submissions to the Companies Commission of Malaysia and the Malaysian Institute of Accountants.
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1. Title and Company Details: Full legal name of the company, company registration number, and reference to it being a board resolution
2. Date and Venue: Date, time, and location of the board meeting
3. Attendance: List of directors present and absent, confirmation of quorum
4. Chairman: Identification of the chairman presiding over the meeting
5. Previous Auditor Status: Statement regarding the status of the previous auditor (resignation, retirement, or first appointment)
6. Appointment Resolution: Formal resolution text appointing the new auditor, including their full name, firm name, and registration number
7. Remuneration: Resolution on the auditor's remuneration or authority delegated to directors to fix the remuneration
8. Term of Appointment: Duration of appointment and specification of the financial year(s) to be audited
9. Authorization: Authority granted to company officers to execute necessary documents and file required notifications
10. Closure: Formal closing of the resolution with signature requirements
1. Regulatory Compliance Statement: Additional statements confirming compliance with specific regulatory requirements, necessary for public listed companies or regulated entities
2. Auditor Independence Declaration: Include when specifically requested by the auditor or required by company policy
3. Special Instructions: Any specific instructions or scope limitations for the auditor, if applicable
4. Group Company Provisions: Required when the appointment includes audit responsibilities for subsidiary companies
1. Appendix A - Auditor's Acceptance Letter: Written confirmation from the appointed auditor accepting the appointment and confirming their eligibility
2. Appendix B - Auditor's Registration Certificate: Copy of the auditor's current registration certificate from the Malaysian Institute of Accountants
3. Appendix C - Previous Auditor's Resignation Letter: If applicable, include the formal resignation letter from the previous auditor
4. Appendix D - Statement of Independence: Declaration from the new auditor confirming their independence in accordance with relevant ethical requirements
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Technology
Retail
Healthcare
Real Estate
Construction
Energy
Telecommunications
Transportation
Agriculture
Mining
Education
Professional Services
Hospitality
Media and Entertainment
Relevant Teams
Board of Directors
Finance
Legal
Compliance
Internal Audit
Corporate Secretarial
Risk Management
Corporate Governance
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Finance Director
Board Chairman
Board Director
Audit Committee Chairman
Compliance Officer
Financial Controller
Legal Counsel
Corporate Governance Officer
Risk Management Officer
Internal Audit Manager
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