Appointment of auditor by proprietary company
(1) The directors of a proprietary company may appoint an auditor for the company if an auditor has not been appointed by the company in general meeting. (2) The directors of a proprietary company must ensure that there is an auditor for the company at all times during the period: (a) starting 1 month after: (i) the time the company first raises a total equal to or exceeding the CSF audit threshold from all the CSF offers it has ever made; or (ii) if the period starting because of subparagraph (i), or because of an earlier operation of this subparagraph, has ended—the time the company makes a later CSF offer; and (b) when the company ceases to have any CSF shareholders at a later time in a particular financial year—ending when the company’s financial report for that financial year has been audited. (3) However, subsection (2) does not apply for any period of 1 month or less starting when a vacancy occurs in the office of auditor of the company (however that vacancy is caused). (4) A director of a company must take all reasonable steps to comply with, or to secure compliance with, subsection (2).
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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