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
WHAT ARE THE MAJOR PROBLEMS INVOLVED IN THE USE OF A PERSONAL COMPUTER BASED PC SYSTEM BY A SMALL COMPANY

(i) Overview of the audit process (a) Identify the key steps in this framework/ concept. (b) Briefly explain each of the key steps, in your own words. (ii) Framework of cr

State four factors considered determining sufficiency of audit evidence

Q. Which of the following statements is not considered a disadvantage of the corporate form of organization? a. Additional taxes b. Government regulations c. Limited liability of s

Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.

Audit Approach The auditor: 1) Must get the cooperation of the client, as simply the client can authorise third parties that communicate along with the auditor. 2) Choos

Procedures When Fraud is suspected Whenever the auditor encounters situation that might indicate that there is a material mis-statement in the financial statements resultant fr

Why is studying Auditing different from studying other accounting topics?

Key Audit Areas - Building Society 1. The auditor must examine the process for checking deeds on receipt from the lawyers to ensure such they are complete in accordance along

Disclosures about Inventories - IAS 2 IAS 2 specifies disclosures about inventories. In a large manufacturing company, no article in the balance sheet appears verification