Dealings with directors and other parties, Auditing

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Dealings with Directors and Other Parties - Sundry Debtors and Loans

Dealings along with directors and other related parties: The auditor's duties are follows as:

i. The review of all loans made to connected persons and directors outstanding at any time of the year. Materiality does not relate. All loans must be reviewed.

ii. Certificates of confirmation should be got from the directors concerned.

iii. Understand the board minutes to ensure such all advances are subject to appropriate board minutes.

iv. Ensure to compliance along with the law.

v. Full disclosure as needed should be made.

vi. Whether the directors fail to give all the relevant information in the accounts the auditor is needed to provide that information in his report.


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