The Appointment of Auditor Resolution is a crucial corporate governance document required under South African law when appointing or reappointing an external auditor. This document becomes necessary either annually for certain categories of companies, upon the resignation or removal of an existing auditor, or when a company first becomes required to have an auditor under the Companies Act. The resolution must comply with Sections 90-93 of the Companies Act 71 of 2008 and, where applicable, the Auditing Profession Act and JSE Listing Requirements. It typically follows an audit committee recommendation (for public companies) or board selection process, and must include specific confirmations about the auditor's independence and qualifications. The document serves as evidence of proper corporate governance and regulatory compliance in the auditor appointment process.
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1. Title and Date: Clear identification of the document as a resolution for appointing auditors, including the date of the resolution
2. Company Details: Full registered name of the company, registration number, and registered address
3. Meeting Details: Type of meeting (board/shareholders), venue, date, and time
4. Attendance and Quorum: Record of directors/shareholders present and confirmation of quorum requirements being met
5. Authority: Statement of legal authority under Companies Act and company's MOI to appoint auditors
6. Resolution: Formal resolution text appointing the auditor, including full details of the audit firm and designated audit partner
7. Independence Declaration: Confirmation of the auditor's independence as required by Section 90 of the Companies Act
8. Term of Appointment: Duration of the appointment and when it becomes effective
9. Certification: Signature section for the chairperson or authorized signatory to certify the resolution
1. Audit Committee Recommendation: For public companies and state-owned entities, include the audit committee's recommendation for the appointment as required by the Companies Act
2. Previous Auditor Details: Include when there is a change of auditors, stating details of the previous auditor and reason for change
3. Fee Structure: Optional section detailing the agreed audit fee structure or authorization for fee negotiation
4. JSE Requirements: For listed companies, additional confirmations required under JSE Listing Requirements
5. Rotation Considerations: For applicable entities, confirmation of compliance with mandatory audit partner rotation requirements
1. Auditor's Acceptance Letter: Written confirmation from the audit firm accepting the appointment and confirming their independence
2. Audit Committee Resolution: For public companies, copy of the audit committee resolution recommending the appointment
3. IRBA Confirmation: Confirmation of the audit firm's registration with the Independent Regulatory Board for Auditors
4. Previous Auditor Resignation Letter: If applicable, the resignation letter or termination acknowledgment from the previous auditor
Relevant legal definitions
Clauses
Meeting Constitution
Authority and Powers
Appointment
Independence Declaration
Auditor Qualifications
Term of Office
Scope of Services
Regulatory Compliance
Remuneration
Previous Auditor Resignation
Audit Committee Recommendation
Professional Registration
Rotation Requirements
Duties and Responsibilities
Certification
Authority and Powers
Appointment
Independence Declaration
Auditor Qualifications
Term of Office
Scope of Services
Regulatory Compliance
Remuneration
Previous Auditor Resignation
Audit Committee Recommendation
Professional Registration
Rotation Requirements
Duties and Responsibilities
Certification
Relevant Industries
Financial Services
Mining
Manufacturing
Retail
Technology
Healthcare
Energy
Telecommunications
Real Estate
Transportation
Agriculture
Construction
Professional Services
Education
Non-Profit Organizations
State-Owned Enterprises
Relevant Teams
Legal
Finance
Compliance
Corporate Secretariat
Risk Management
Corporate Governance
Board of Directors
Audit Committee
Executive Committee
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Financial Director
Audit Committee Chairman
Board Chairman
Legal Counsel
Compliance Officer
Finance Manager
Corporate Governance Officer
Risk Manager
Board Member
Shareholder
Audit Partner
Managing Partner
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