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Question 1: In relation to Voluntary Administration:
(a) Who appoints an administrator?(b) What is the rationale behind administration?(c) How could it be useful to directors?(d) What are the possible outcomes of administration?(e) Is a restructure always the best for creditors?(g) Are all creditors treated the same?(h) What company debts is the administrator liable for during the administration?
Question 2: What is the effect of the stay (moratorium) on proceedings during administration and what do you think are the reasons the Act enables certain creditors to avoid the stay (be exempted from the stay).
Question 3: How are receivers appointed, and what are their duties?
Question 4: What matters are relevant in an assessment of whether a company is insolvent and why is the issue of insolvency an important factor in the regulation of business relationships?
Describe and evaluate this type of internal audit. What types of organisation would it be most useful for?
Code of Ethics for Professional Accountants
Prepare Swag's consolidated balance sheet
Notable operational challenges for 4X Heavy Ltd faced in 2012/2013 were but not limited to
Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors
Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.
State whether Event is adjusting or non-adjusting event.
As a consequence an accounts payable clerk and financial accountant were made redundant from the business during the year.
To identify principal audit risk and corresponding audit procedures
Show the audit inherent risk and rate the risk as low, medium or high.
Explain the role of the following three 'bodies' in National Health Reform
Prepare a memo on the 'state of the company's industry' and associated risk factors.
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