S.L. 234.42 Art. 85Disqualification from appointment as auditor.

(1) A person shall be disqualified from appointment as auditor or from holding the office of auditor of a company if -

(a) in the case of an individual, he has at any time during the previous three years been -

(i) an officer or employee of the company; or

(ii) a partner, employer or employee of an officer of the company; or

(iii) a partner or employee of an employee of the company; or

(iv) related by consanguinity or affinity in the direct line, or up to the third degree, in the collateral line, to any officer of the company.

(2) An auditor must at all times adhere to the rules on independence and professional ethics set out in the Code of Ethics and any other regulations, directives or guidelines issued from time to time in terms of the Accountancy Profession Act.