Guinea Conakry
Corporate Guide

Is there a requirement for a company to appoint an auditor in Guinea Conakry?

The requirement to appoint an auditor depends on the type of company and, in some cases, the company's annual turnover as follows:

Public limited company

According to Article 702 of the OHADA Company Law, public limited companies that do not raise capital through public offerings are required to appoint one principal auditor and one deputy. Public limited companies that raise capital through public offerings are required to appoint at least two auditors and two deputies.

Simplified joint-stock company

According to Article 853-13 of the OHADA Company Law, the appointment of an auditor is optional in an SAS. Thus, it will at least need to appoint an auditor if two of the following three conditions are met:

• The balance sheet total is greater than XOF 125 million. 
• The annual turnover is above XOF 250 million.
• It has a permanent workforce of more than 50 people.

It is also required to appoint an auditor when the company controls one or more companies or when the company is controlled by one or more companies.

Private limited company

According to Article 376 of the OHADA Company Law, private limited companies are required to appoint at least one auditor if they meet, at the end of the fiscal year, two of the following conditions: 

• The total amount of the balance sheet is greater than XOF 125 million.
• The annual turnover is greater than XOF 250 million.
• The number of permanent staff exceeds 50 people.

The company shall not be required to appoint an auditor if it has not met two of the conditions set out above for two years preceding the expiration of the auditor's mandate. For other private limited companies that do not meet these criteria, the appointment of an auditor is optional. Nonetheless, such an appointment may be requested in court by one or more members holding at least one tenth of the share capital.