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Requirement to appoint an auditor

Every company must appoint an auditor or auditors except where exemption from audit is available and the directors choose to take advantage of this (see 37A[16]–[23] below).¹

Different appointment procedures apply, depending on whether the company is a private company or a public company, and on whether or not the company is a public interest entity (PIE). For these purposes, a public interest company is:²

1. Ìý

   (1)ÌýÌýÌýÌý For periods beginning on or after IPCD (see 37A[1] above):

2. Ìý
   1. Ìý

      (a)ÌýÌýÌýÌý a company that is an issuer with transferable securities admitted to trading on a UK regulated market;

   2. Ìý

      (b)ÌýÌýÌýÌý a credit institution within the meaning given by Art 4(1)(1) of Regulation (EU) 575/2013 of the European Parliament and of the Council, which is a CRR firm³