Auditor appointment procedure: Audit Committee or Board must assess qualifications, address conduct issues, and recommend to members. Selection and appointment require the Audit Committee, or the Board where no committee exists, to evaluate a proposed auditor's qualifications and experience and consider any professional conduct orders or proceedings. The committee recommends candidates to the Board, which either forwards the recommendation to members or refers it back with reasons; if disagreement persists the Board records reasons and sends its recommendation to members for appointment, and the auditor then holds office for the prescribed tenure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Auditor appointment procedure: Audit Committee or Board must assess qualifications, address conduct issues, and recommend to members.
Selection and appointment require the Audit Committee, or the Board where no committee exists, to evaluate a proposed auditor's qualifications and experience and consider any professional conduct orders or proceedings. The committee recommends candidates to the Board, which either forwards the recommendation to members or refers it back with reasons; if disagreement persists the Board records reasons and sends its recommendation to members for appointment, and the auditor then holds office for the prescribed tenure.
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