Auditor eligibility limited to chartered accountants; prescribed conflicts and relationships mandate disqualification and vacating of office.

Eligibility to be appointed auditor is restricted to those qualified as chartered accountants, and where a firm or LLP is appointed only chartered accountant partners may act and sign. A range of disqualifications - including corporate status (other than LLP), company officers or employees, certain financial interests or indebtedness of the auditor or close associates, prescribed business relationships, relatives in key roles, excess concurrent appointments, conviction for fraud, and engagement in prohibited consulting services by related entities - preclude appointment or require vacation of office, with such vacation treated as a casual vacancy.

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