How is the 1st auditor of a company appointed?

The first auditor of a company is typically appointed by the Board of Directors within 30 days of the company's incorporation. If the Board fails to appoint an auditor, the shareholders can appoint one at an extraordinary general meeting. The appointed auditor holds office until the conclusion of the first annual general meeting, where a permanent auditor is appointed. This process ensures that the company has a designated auditor from the outset to oversee financial compliance.