Companies Act 2014 section 381

Remuneration of statutory auditors

Section 381 sets out how the remuneration of a company's statutory auditors is to be determined, depending on who appointed them.

• Where directors appoint the auditors, the directors agree the remuneration with them directly.
• Where members appoint the auditors (or the auditors are automatically re-appointed), the members may fix the remuneration at a general meeting or by any other method they resolve upon.
• Where the Corporate Enforcement Authority appoints the auditors, the Authority fixes the remuneration, unless it authorises the directors or members to do so instead.
• Any expenses paid by the company on behalf of the auditors are treated as part of their remuneration.