Interesting
Company´s Audits
Two new rules for compulsorily audited companies were determined by the new Auditors Act in § 17.
a) the auditor is appointed by the supreme authority, which is (in the case of trading companies) the general meeting of partners and shareholders or the Supervisory Board,
b) the submitting company may unilaterally terminate the audit contract only if the auditor essentially violated legal regulations, internal rules or ethics code. The company is then obliged to inform the Council of the Chamber of auditors for common supervision over auditing and give specific reasons for the termination of that relationship.
a) the auditor is appointed by the supreme authority, which is (in the case of trading companies) the general meeting of partners and shareholders or the Supervisory Board,
b) the submitting company may unilaterally terminate the audit contract only if the auditor essentially violated legal regulations, internal rules or ethics code. The company is then obliged to inform the Council of the Chamber of auditors for common supervision over auditing and give specific reasons for the termination of that relationship.