Companies Act 2007 · As enacted · Part VII · Management and Administration Registered Office
154. Appointment of auditor
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
A company shall at each annual general meeting, appoint an auditor to—
hold office from the conclusion of that meeting until the conclusion of the next annual general meeting;
and
audit the financial statements of the company and if the company is required to complete group financial statements, those group financial statement for the accounting period next after the balance sheet date for which financial statements were audited.
The board of a company may fill any casual vacancy in the office of auditor, but while the vacancy remains the surviving or continuing auditor, if any, may continue to act as auditor.
Where —
at an annual general meeting of a company no auditor is appointed or re-appointed and no resolution has been passed under subsection (2); or
a casual vacancy in the office of auditor is not filled within one month of the occurring of such vacancy, the Registrar may appoint an auditor.
A company shall within five working days of the power becoming exercisable, give written notice to the Registrar of the fact that the Registrar is entitled to appoint an auditor under subsection (3).
Where a company fails to comply with the requirements of subsection (4)—
the company shall be guilty of an offence and be liable on conviction to a fine not exceeding two hundred thousand rupees ; and
every officer of the company who is in default shall be guilty of an offence and be liable on conviction to a fine not exceeding one hundred thousand rupees.
Part VIII
Amalgamations
Part IX
Compromises with Creditors
Part X
Approval of Arrangements, Amalgamations, and Compromises by Court
Part XI
Provisions Relating to Offshore Companies
Part XII
Winding Up
Part XIII
Administrators Appointment of Administrator
Part XIV
Floating Charges
Part XV
Receivers and Managers
Part XVI
Registrar-General of Companies and Registration Appointment of Officers
Part XVII
Application of Act to Existing Companies
Part XVIII
Overseas Companies
Part XIX
Advisory Commission
Part XX
Companies Disputes Board
Part XXI
Offences Miscellaneous Offences
Part XXII
Miscellaneous Prohibition of Partnership with More Than Twenty Members
Part XXIII