Article 345 — Requirements to be Appointed as Auditor

1/ To be eligible for the position of an auditor of a share company a person shall fulfill the following: a) issued with a professional license from a relevant authority; b) be of a good moral character; c) not be a shareholder or an employee of the company; d) is not a person affiliated with the company as defined under Article 306 Sub-Article (6) of this Code; e) fulfill other requirements set by the law or the memorandum of association. 2/ Reports submitted by an Auditor and adopted by the general meeting shall not, save in the case of fraud, be invalid merely by reason of the fact that the provisions of this Article have not been observed.