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19
Type of Corporation
(Gross Annual Revenues)
Appointment of  Public Accountant (PA)
Review Engagement or Audit
Non-Soliciting
Designated
$1 million or less
Members must appoint a PA by ordinary resolution at each annual meeting.
Exception – Members may waive appointment by annual unanimous resolution
PA must conduct review engagement, but members may pass an ordinary resolution to require an audit instead.
(If no PA is appointed, then compilation only)
Non-Designated
more than $1 million
Members must appoint a PA by ordinary resolution at each annual meeting
PA must conduct an audit.