Misfeasance by the auditors, Business Law and Ethics

Misfeasance by the auditors:

However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way which never occurred to any one before suspicion was aroused.  The question is where, no suspicion of anything wrong being   entertained, there was a want of reasonable care on the part of the auditors in relying on the returns made through a competent and trusted expert relating to matters on where as information from such a person was essential. So I can't think there was.  The manager had no apparent conflict between his his duty and interest also.  Therefore his position was not similar to that of a cashier who was to account for the cash that he receives, and other, whose own account of his receipts and payments could not reasonably be taken by an auditor without further inquiry.

                   LOPES,LJ.:" ... (1) What is a misfeasance within the way of S.324(1)?

Therefore now 'Have the auditors in the circumstances of this case committed a misfeasance?'  Since it has been held that an auditor is an officer within the meaning of the Section as:- like 'In RE LONDON AND GENERAL BANK'.  So but has there been any misfeasance by the auditors?  Thus now this depends upon what meaning is to be assigned to the word "misfeasance" as used in this section.  The learned moderator or judge in the court below held that misfeasance covered any misconduct by an officer of the company as such for which such officer might have been sued apart from the section.  In my judgement this is too wide.

Posted Date: 1/15/2013 2:33:50 AM | Location : United States







Related Discussions:- Misfeasance by the auditors, Assignment Help, Ask Question on Misfeasance by the auditors, Get Answer, Expert's Help, Misfeasance by the auditors Discussions

Write discussion on Misfeasance by the auditors
Your posts are moderated
Related Questions
Prospectus Issue: Under a prospectus issue the company sells the shares directly to the public rather than selling them through intermediaries.

Disadvantages of Stare Decisis - Rigidity However the case law method of administration of justice has been criticized on the grounds which it leads to rigidity because the di

The work of the International Labour Organisation in regard to the adoption and implementation of Conventions and Recommendations involves Member States in a number of constitutio

QUESTION 1 What are the role, powers, functions, aims and objectives of Trade Unions in maintaining a sound and harmonious relations? QUESTION 2 (a) What are the possib

As part of this project, expert input was provided by employment law specialists Herbert Geer. Herbert Geer raised the possibility that the FWO could recover amounts lost by indivi

What are the origins of open method of coordination The origins of the OMC lie in the Lisbon European Council (March 2000), which made its introduction as the primary means of

how evidence is used to prove a criminal offence: This question is asking you to consider the importance of evidence, how it is used and how reliable it may be in supporting

Termination of an Offer - Revocation Such offer is "revoked" whether the offeror changes his thinking and withdraws it as for expressly or impliedly.  However to be valid suc

Important points - Contractual Capacity of Drunken Persons Here the following points should be notice for as: Ratification Well a drunken man who enters into

Effect Of Rescission: Where a contract of allotment is rescinded, the former shareholder will be entitled to his money back (normally with interest) and to a refund of any exp