211. External Auditors are necessary for assessing the soundness of internal financial controls of a
company and making recommendations for improvement where required.
212. The external auditors’ report should state their responsibility, the scope of work performed
and their opinion on the financial statements.
213. The Board and the audit committee should agree on the fees and work plan of the external
auditors.
214. The audit committee should recommend to the Board the appointment, retention and
replacement of external auditors.
215. In the absence of a Board, external auditors should report to the shareholders at the annual
general meeting or at an extraordinary general meeting.
216. Recommendations from external auditors should include a discussion of the main accounting
policies, material weaknesses and significant flaws of internal controls and procedures,
alternative accounting approaches, instances of disagreement with management and risk
assessment and analysis of possible fraud.

• According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE