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audit requirement

audit requirement

Postby jantra » Tue Jan 17, 2017 12:42 pm

hi All

what powers/rights do shareholders have regarding the timing of a company audit? the background is as follows:

Mr J was FD of a company until say Aug 2016 and from that point was excluded from management
Mr J controls 42% of stock
The year end was December 2016
Mr J has requested an audit
the board have agreed to an audit
Mr J is still a board member, has noted the board are delaying appointing the auditors. Mr J has reason to believe the accounts aren't in good shape from Aug 2016 onwards, and the directors who control the board do not want an audit or else this will be identified...

what can be done, if anything, to force an auditor to be appointed promptly
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