Solutions - relationship between auditors and shareholders, Finance Basics

Assignment Help:

Solutions to the conflict - Relationship between Auditors and Shareholders

1. Firing

The auditors may be detached from office at the AGM via the shareholders.

2. Legal action

Shareholders be capable to institute legal proceedings against the auditors who question misleading reports leading to investment losses.

3. Disciplinary Action - ICPAK

Professional bodies have disciplinary methods and measures against their members who such are comprised in un-ethical practices. Hence disciplinary actions may comprise of:

  1. The auditor' Suspension
  2. Withdrawal of active certificate
  3. Penalties and Fines
  4. Reprimand

4. Employ of audit committees and audit reviews.


Related Discussions:- Solutions - relationship between auditors and shareholders

Determine usefulness of information in financial statements, Since 1968, Dr...

Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum

Price - sales of goods, Price - Sales of Goods Like where section 10 p...

Price - Sales of Goods Like where section 10 provides such the price for goods may like fixed by like: (i) Contract; and one is (ii) The manner provided within the contr

Calculate the value of the company with borrowing, Suppose the ABC Corporat...

Suppose the ABC Corporation is currently all-equity financed and would like to increase its value by issuing debt. The firm has annual earnings before interest and taxes of $7,0

New divisor, Able, Baker and Charlie are the only three stocks in an index....

Able, Baker and Charlie are the only three stocks in an index. The stocks will sell for $93.$312 and $78 respectively. If Baker undergoes a 2-for-1 stock split, what is the new div

Hi, continous time finaince expert

continous time finaince expert

Present annuity & future annuity, John has just retired & she is running ou...

John has just retired & she is running out of cash. Her finanical planner advises her to do reverse mortage to improve her standard of living. The current market value of her self

Prepare comparative income statement, From the following cost, production a...

From the following cost, production and sales data of Decors Motor Ltd., prepare comparative income statement for three years under (i) absorption costing method, and (ii) marginal

Trading mechanism, Trading Mechanism 1. An investor approaches broker...

Trading Mechanism 1. An investor approaches brokers who obtain his bid or prefer to the trading floor. 2. At the trading floor, the selling and buying brokers meet and sea

What do you mean listing of securities, What do you mean listing of securit...

What do you mean listing of securities? Explain. Listing of Securities: Listing means admission of the securities to dealings on a recognized stock exchange. Securities of an

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd