Companies Act (Cap. 386), article 156

156. (1) The remuneration of auditors appointed by the company in general meeting shall be fixed by the company in general meeting or in such manner as the company in general meeting may determine. The rem uneration of auditors appointed b y the directors or the court shall be fixed by the directors or t he court as the case may be. (2) There shall be stated in the notes to the accounts the amoun t of the remuneration of the company’s auditors in their capacity as such; and where consolidated acc ounts are prepared, the notes t o the consolidated accoun ts shall state the total remuneration pa id to the auditors of the parent company in respect of all undertakin gs included in the consolidation, and also the total remuneration paid to all other auditors in respect of such undertakings. (3) For the purposes of this article "remuneration" includes sums paid in respect of expenses. (4) The provisions of this arti cle shall apply in relation to benefits in kind as to payments in cash, and in relation to any such benefit references to its amount are to its estimated money val ue. The nature of any such benef it shall also be disclosed. (5) There shall also be stated in the notes to the accounts separately the total fees c harged by the auditor for: (a) other assurance services; (b) tax advisory services; and (c) other non-audit services. (6) The provisions of sub-ar ticle (5) shall not apply: (a) where an undertaking is included within the consolidated accounts of another undertaking and the information required by sub-article (5) is provided in the notes to such con solidated accounts; or (b) to a company which on its balance sheet date does not exceed the limits of two out of t he three criteria set out in article 185(1)( a). Notwithstanding the provisions of this paragraph, the Accountancy Board established in terms of the Accountancy Profession Act may request the information specified in sub-article (5) to be delivered to 104 CAP. 386.] COMP ANIES it within such period as it may establish for that purpose. Cap. 281. (7) The provisions of sub-article (6) shall not apply to a publi c interest entity as defined in the Accountancy Profession Act . Removal of auditors. Amended by: IX. 2008.17; XXXVI. 2016.21.