GENE 9.7.3 Eligibility for appointment as auditor [effective from 6th December 2009]
(1) An authorised firm must not appoint a person as auditor for the
firm unless the person:
(a) has consented in writing to the appointment being made;
(b) has the skills, resources and experience necessary to audit the firm's business; and
(c) has satisfied the firm that it and its relevant audit staff are:
(i) independent of the firm; and
(ii) not subject to any conflict of interest in relation to the firm.
(2) The authorised firm must make and keep sufficient records to demonstrate that it complied with subrule (1) before the appointment was made.
(3) The records must be kept for at least 6 years after the day the person ceases to be auditor for the authorised firm.
|Editorial changes (as from 1st January 2016).|