{"id":1211677,"date":"2022-09-27T10:20:47","date_gmt":"2022-09-27T10:20:47","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/27\/registrar-of-companies-extends-deadline-for-auditor-rotation-compliance\/"},"modified":"2022-09-27T10:20:47","modified_gmt":"2022-09-27T10:20:47","slug":"registrar-of-companies-extends-deadline-for-auditor-rotation-compliance","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/27\/registrar-of-companies-extends-deadline-for-auditor-rotation-compliance\/","title":{"rendered":"Registrar of Companies extends deadline for auditor rotation compliance\u00a0"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\u00a0Accra, Sept 27, GNA \u2013 The deadline for compliance with requirements that prevent companies from having auditors who hold office for more than six years has been extended from end of August to December 31, 2022, the Office of the registrar of Companies, has said.\u00a0<\/p>\n<p>In a statement, the Office said that failure to comply with the rotation of auditors\u2019 directive pursuant to Section 139(11) of the Companies Act, 2019 (Act 992) would result in \u201cthe company, and an officer of the company being liable each to pay to the Registrar an administrative penalty of two hundred and fifty penalty units.\u201d\u00a0<\/p>\n<p>Section 139(11) states that: \u201cAn auditor shall hold office for a term of not more than six years and is eligible for appointment after a cooling-off period of not less than six years.\u201d\u00a0<\/p>\n<p>Exceptions are, however, made for companies formed for special purposes, for example, Banking and Insurance or any other businesses, which are subject to special regulation such as the Securities and Exchange Act, 2016 (Act 929).\u00a0<\/p>\n<p>\u201cAnd where Auditor rotation is specifically provided for, all other companies are to comply with the law immediately,\u201d the statement said.\u00a0<\/p>\n<p>GNA\u00a0<\/p>\n<p><h3 class=\"jp-relatedposts-headline\"><em>Related News<\/em><\/h3>\n<\/p><\/div>\n<p><script type=\"f0df94d949ba04868cebe46b-text\/javascript\">(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&appId=249643311490&version=v2.3\"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Accra, Sept 27, GNA \u2013 The deadline for compliance with requirements that prevent companies from having auditors who hold office for more than six years has been extended from end of August to December 31, 2022, the Office of the registrar of Companies, has said.\u00a0 In a statement, the Office said that failure to comply [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[13784,1537,15957,361,362,2819,26386],"class_list":["post-1211677","post","type-post","status-publish","format-standard","category-business","tag-auditor","tag-companies","tag-compliance","tag-deadline","tag-extends","tag-registrar","tag-rotation"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1211677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1211677"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1211677\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1211677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1211677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1211677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}