Final answer:
External auditors in a limited liability joint-stock company must be independent and not appointed from among the silent partners, with tenure specified by the company’s articles or regulations. Corporate governance entities like the board of directors and external auditors are essential in providing accurate financial information to shareholders.
Step-by-step explanation:
The appointment of external auditors is a critical aspect of corporate governance in a limited liability joint-stock company. The rule for appointing external auditors typically disallows appointment from among the silent partners. Instead, these external auditors should be independent and not involved in the everyday operations or management of the company to ensure that they offer an unbiased opinion of the financial statements. This independence helps in presenting accurate financial information to the shareholders and the public. Additionally, auditors are normally appointed for a specific term, which is stipulated by the company's articles of incorporation or local regulations, but they are not appointed for an indefinite period.
Corporate governance includes institutions like the board of directors, auditing firm, and outside investors to maintain oversight and integrity within a company. The board is elected by the shareholders and is responsible for the oversight of executives, while the auditing firm reviews financial records to certify their reasonableness. In cases such as that of Lehman Brothers, failures in corporate governance can lead to inaccurate financial reporting and severe consequences for investors and the firm.