GENE 9.7.3A Limit on term of auditor's appointment

Subject to rule 9.7.3B (4), an authorised firm that is a QFC entity:

(a) must not appoint a person as its auditor for a period longer than 5 years; and
(b) must not re-appoint a person as its auditor if the re-appointment would result in the person's having been the firm's auditor continuously for longer than 5 years, unless at least 2 years has elapsed since the end of the person's last appointment as the firm's auditor.

Note For the circumstances in which an auditor’s appointment comes to an end, see rule 9.7.6.

Inserted by QFCRA RM/2017-3 (as from 1st April 2017).
Amended by QFCRA RM/2022-3 (as from 1st April 2022).