A private limited company must appoint a company auditor. While the appointment of auditors is usually a decision that rests with the shareholders of the company, the first auditors of a newly incorporated company may be appointed by the board of directors.
To appoint the first auditors, the board of directors must pass a directors' resolution. The directors' resolution can be passed at a directors’ board meeting or by way of a written resolution.
If you choose to have a meeting of the board of directors to pass this resolution, it is necessary to record the minutes of this meeting. You will therefore need a Board Minutes to Appoint First Auditors.
Alternatively, the board resolution can be passed by way of a written resolution using a Board Resolution to Appoint First Auditors.
When drafting either of these documents, it is important to focus on a number of key clauses, in particular: