Penalty for improper appointment, Business Law and Ethics

PENALTY FOR IMPROPER APPOINTMENT:

          S.161 (4) provides that if any unqualified person is appointed as auditor, the person appointed, the company and every officer in default, shall be liable to a fine not exceeding Shs.4,000/-.

Persons Who Cannot Be Appointed:

          Under S.161 (2) none of the following persons shall be qualified for appointment as auditor of a company

      a) As such an officer or servant of the company;

      b) As such a person who is a partner of or in the employment of an officer or servant of the company (unless the company is a private company);

       c) Next is, a body corporate, and

       d) Now next is, persons who are disqualified for appointment as auditor of the company's subsidiary or holding company or subsidiary of the company's holding company.

Posted Date: 1/15/2013 2:28:08 AM | Location : United States







Related Discussions:- Penalty for improper appointment, Assignment Help, Ask Question on Penalty for improper appointment, Get Answer, Expert's Help, Penalty for improper appointment Discussions

Write discussion on Penalty for improper appointment
Your posts are moderated
Related Questions
Provision of Fiduciary Duties - company management: This provision is supplemented by Article 84 of Table A which provides that-  i. The director shall not vote in respect

District Magistrate's Court - Territorial Jurisdiction Further in Section 7(3) of the Act giving that 'a district magistrate's court shall have jurisdiction all through the di

Fraudulent Preference: Under s.312, any disposition of the company's property and any creation of a charge, fixed or floating, effected during the period of six months before

Explain in detail about the policy co-ordination of each country With no policy coordination each country will attempt to maximise its own welfare, taking the other country's m

Illustrate the Maintenance Phase of policy process a) Develop a plan for active maintenance and review Who will ensure that policies are actively maintained and reviewed? H

Question 1: (a) What is meant by: (i) Ratio Decidendi (ii) Obiter Dicta (iii) Legal Doctrine (b) Distinguish between Criminal Law and Civil Law.

When was concept of refugee expanded Refugee law encompasses international legal instruments including the following : The 1951 United Nations Convention relating to the Status

Liability of Maker of a Promissory Conversely S.89 provides such with the maker of a promissory notice through making it: like (a) Engages such he will pay it according to

QUESTION (a) In scientific ethics, list four fundamental principles of scientific research? (b) Give five differences between law and ethics (c) When does a ‘Conflict of

Explain two scenarios in which a restraint of trade clause would typically be used.