ADVOKS GLOBAL · KENYA
The Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations
97. Appointment of an auditor and audit of accounts
Edition: 2023-10-06 · In force
97. Appointment of an auditor and audit of accounts
(1)The trustee shall appoint an independent auditor to audit, at least annually, the accounts and financial statements of the real estate investment trust and the scheme.(2)The auditor shall report on whether the trustee and the REIT manager have complied with these Regulations.(3)The Authority may appoint an auditor to carry out an audit required under these Regulations where—(a)the Authority is of the opinion that the auditor appointed by the trustee under paragraph (1) is not suitable; or(b)the trustee has failed to appoint an auditor.(4)The Authority may, if it is of the opinion that a special audit is necessary in the interests of the holders of REIT securities, appoint an auditor to conduct an audit.(5)An auditor appointed under paragraph (2) and (3), shall be remunerated out of the assets of the real estate investment trust.