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Legal effects of the appointment of the Statutory Auditor
Recently, the Technical Council of Public Accounting (CTCP) pronounced itself on the Oficio 220-142346 of 2023 issued by the Superintendence of Companies which refers to the legal effects of the designation of the statutory auditor.
Among the observations made, the CTCP pointed out that the designation of the statutory auditor through registration with the Chamber of Commerce is not a duty or function of the statutory auditor, this is the responsibility of the contracting company or entity (Article 163 of the Code of Commerce). The CTCP also stated that it has not been determined by law that the legal validity of the commencement of the statutory auditor’s duties is conditioned to the registration of his appointment before the Chamber of Commerce, since the quality of statutory auditor is acquired by the appointment and acceptance of the position. According to the CTCP, «if the contracting entity fails to register with the Chamber of Commerce, this does not invalidate the appointment of the statutory auditor, it does not invalidate his acts or his attestation and signature in the documents pertaining to his duties».
