Cameroon
Corporate Guide
Is there a requirement for a company to appoint an auditor in Cameroon?
The appointment of an auditor is always mandatory for a public limited company (Article 694 AUSGIE). During mergers, an appraiser auditor is required (Article 672 AUSGIE), as well as during a transformation (Article 187-1).
For partnership companies and limited partnerships companies that meet at the end of the fiscal year, an auditor is required if two of the following conditions are met:
- A balance sheet total of more than XAF 250 million
- An annual turnover exceeding XAF 500 million
- More than 50 permanent staff (Article 289-1 AUSGIE and 293-1)
For private limited companies and simplified public limited companies that meet at the end of the fiscal year, an auditor is required if two of the following conditions are met:
- A total balance sheet amount that is greater than XAF 125 million
- An annual turnover of more than XAF 250 million
- More than 50 permanent staff members (Articles 376 and 853-13 AUSGIE)