The Pamphlet Collection of Sir Robert Stout: Volume 88

Audit

Audit.

87. The accounts of the Company shall be

Auditors

examined, and the correctness of the balance-sheet ascertained, by an auditor or auditors, to be elected by the Company in general meeting.
88. If only one auditor is appointed,

Continued

all the provisions herein contained relative to auditors shall apply to him.
89. The auditors need not, but may be

Qualification of auditors.

shareholders in the Company, and no Director, manager, or other officer of the Company, shall be eligible as auditor during his tenure of office, or within one year after the determination thereof.
90. The election of auditors shall be made

Election of auditors.

by the Company at the first ordinary general meetingin each year ensuing the incorporation

of the Company. Until the first of such meetings, auditors may be appointed by the Directors.

Auditors' remuneration.

91. The remuneration of the auditors for the first year shall be fixed by the Directors, and afterwards by the Company in general meeting.

Auditors re-eligible.

92. An auditor shall be re-eligible on his quitting office.

Auditors, casual vacancy

93. If no election of auditor is made in manner aforesaid, or if an occasional vacancy in the office should occur, an auditor or auditors may be temporarily appointed by the Directors.

Duties of auditors.

94. Every auditor shall be supplied with a copy of the balance-sheet, and it shall he his duty to examine the same with the accounts and vouchers relating thereto.

Auditors to have access to all books, &c.

95. Every auditor shall, at all reasonable times, have access to all the books and accounts and securities of the Company, and the assistance of the Company's clerks in examining them.

Report of auditors.

96. The auditors shall make a report to the shareholders upon the balance-sheet and accounts, and their report shall be read, together with the report of the Directors, at the ordinary meeting.