An approved auditor must be appointed by the general meeting when the company is no longer considered a small company on the basis of the criteria set by law.
The approved auditor is not, unlike the auditor, an organ of the company and must be independent of the company.
Its role is to give an opinion on the accounts for a financial year and the management report as to their accuracy and compliance with legal requirements. It is not the role of the auditor to supervise the affairs of the company.
Finally, a certified auditor is also required when the company has to prepare consolidated accounts.