The Law should not place any restrictions on the use of tendering as a means of selecting a company’s auditors but companies should be encouraged to reduce the number of formal tenders required. Recommendation 7.11.
The Law should be amended to provide that where a company’s audit committee or the company’s board is to discuss issues which have relevance to the audit, the company’s auditor should be given notice of the meeting and be invited to attend the meeting or relevant part thereof. The Law should also be amended to permit an auditor (by prior notice) to attend an audit committee meeting or board meeting to raise and discuss issues which have relevance to the audit. Recommendation 7.12.
