The audit of Private Limited Companies under the OHADA Law is not automatic as with the case of a Public Limited Company. However, the OHADA Law has provided for certain conditions under which a Private Limited Company will be audited.
Private limited companies with registered capital exceeding ten million (10.000.000) FCFA or which fulfil either of the following two conditions;
- The annual turnover exceeds two hundred and fifty million (250.000.000) FCFA,
- The permanent staff exceeds 50 persons, shall be required to designate at least one auditor.
The above-mentioned conditions shall obligatorily demand the need for an auditor.
For other private limited companies which do not fulfil the above criteria, the appointment of an auditor shall be optional.
However, the appointment of the auditor may be requested before the court by one or more partners controlling at least one-tenth (1/10) of the registered capital.