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Financial Statements Rely
All Financial providers people must be sure that the financial statements can be relied upon.It should be noted that:1. The auditor himself must be independent to have credibility.
2. He must have the primary objective of producing a report of his opinion on the truth and fairness of the accounts, so that any person reading and using them can believe in them.
3. Subsidiary objectives can be seen to be the detection of errors and fraud, the prevention of errors and fraud by the deterrent and moral effect of the audit and the ability to provide other benefits to his clients such as: • Assistance with accounting; • Systems; • Taxation; • Financial and other problems.The Companies Act was designed to protect shareholders from directors hence the need for an audit as contained in the Companies Act mainly relates to limited liability companies, but as we shall see any organization can benefit from an audit.
Question 1: Auditing standards regulate the audit profession. a) Explain the importance and role of audit standards. b) Lists four of the standards issued by the INTOSAI
list of assets
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Audit Reports - Going Concern In the vast widely of cases, the going to relate assumption is suitable and whether applied no mention require be made in the auditor's report.
Prepare a narrative describing the transaction cycle process for debt in a municipality.
if a proxy is voted as per his judgement other than member prescribed to him... what is the action to be taken?
Banks under Companies Act Banks are incorporated under the Companies Act like any other business but are granted special privileges under the same Companies Act and subjected t
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