Dealings with directors and other parties, Auditing

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.

Posted Date: 1/28/2013 12:37:41 AM | Location : United States







Related Discussions:- Dealings with directors and other parties, Assignment Help, Ask Question on Dealings with directors and other parties, Get Answer, Expert's Help, Dealings with directors and other parties Discussions

Write discussion on Dealings with directors and other parties
Your posts are moderated
Related Questions
Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with

B. For the one activity/process you ranked the most significant, identify and evaluate four risks. a. Two of the risk should be high to medium significance, and at least one shoul

Assessment Criteria Sheets Risk analysis report Subject Learning Outcome: To examine techniques used by auditors, including risk analysis, evidence collection and evaluation Below

Pension Funds Pension funds are set up by companies or other organizations: (a) To administer the pension payable to retired employees and (b) Ensure that funds are available

Using the 30 September 2011 trial balance (appendix to this case study) calculate planning materiality and include the justification for the basis that you have used for your calcu

As an auditor, how would you react to the following situation? The company produced photocopies of fixed deposit receipts as the original receipts were kept in the iron safe of the

auditor is a watch dog not a blood hound

Auditor's Duties - Audit of Current Assets The auditor's duties can be summarized as follows: a) The accounting ascertaining policies adopted through the entity for pri

Existence - Detailed Audit of Stock In the previous the auditor accepted a director's certificate as to the existence of stocks.  Until some cases specifically in the United S

audit procedure for shares or common stock