Companies Act 2014 section 403

Duty of auditor to notify Supervisory Authority regarding cessation of office

Section 403 requires a statutory auditor who ceases to hold office between annual general meetings to notify the Supervisory Authority within 30 days, and specifies the supporting documentation that must accompany that notification.

• A statutory auditor who leaves office between annual general meetings — whether by removal or resignation — must notify the Supervisory Authority within 30 days, using the form and manner the Authority specifies.
• If the auditor resigned, the notification must be accompanied by the resignation notice served on the company; if the auditor was removed by the members, it must be accompanied by any written representations the outgoing auditor made to the company about the proposed removal, unless a court order prevented those representations from being circulated.
• Where the auditor's resignation notice states there are no circumstances that members or creditors need to be made aware of, the auditor must nonetheless provide the Supervisory Authority with a separate statement setting out the reasons for the resignation.
• For the purposes of this section, "resignation" includes an auditor indicating unwillingness to be reappointed at the next annual general meeting, so the notification obligation applies equally in that situation.