Requirements to be a statutory auditor (art. 285 LGS)
Article 285 of the General Companies Law requires that a statutory auditor be a lawyer or accountant with a qualifying degree (or a partnership of such professionals) and have actual domicile in the country.
What article 285
Article 285 sets the requirements to be a statutory auditor of a corporation.
To be a statutory auditor the following is required: 1) to be a lawyer or public accountant, holding a qualifying degree, or a jointly and severally liable partnership formed exclusively by such professionals; 2) to have actual domicile in the country.
Source: Law 19,550, art. 285 — InfoLEG (updated official text)
Commentary
The office of statutory auditor requires professional competence (lawyer or accountant), given its role of controlling legality and accounting matters. Domicile in the country ensures the auditor is locally accessible and accountable.
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