Zambia
Corporate Guide

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

A company is required to appoint an auditor, within three months of incorporation, to hold office until the company’s first annual general meeting (section 253 of the Companies Act). 

Note that only companies deemed small private companies are exempt from this requirement (section 263 of the Companies Act). Small private companies are those with fewer than 100 employees, an annual turnover of less than ZMW 800,000 and a total investment, excluding land and buildings, of less than ZMW 500,000 if the company is a manufacturing company or less than ZMW 300,000 if the company is a trading or services company (Regulation 3 of the Companies (General) Regulations 2019).