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
The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw

Unincorporated Associations:                 A group of people may come together in order to pursue or  promote a common purpose or activity but without going through the vari

In a business context, there are thousands of legal claims that happen frequently in a company's course of operations. Frequently, the management team must come to together to veri

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

QUESTION 1 (a) What are the various alternatives that exist to settle a dispute besides going to court (b) What are their respective advantages and disadvantages QUESTIO

Q. Show Recent developments in mitigating phoenix activity? Since these previous works, there have been significant developments in mitigating phoenix activity. Following Tr

RULE IN FOSS v HARBOTTLE:  What has come to be recognized in company law as "the rule in Foss v Harbottle" is the decision of Vice-Chancellor Wigram in the case of Foss v Harb

The college contacted the state labor relations commission (LRC) to dismiss the petition due to the law did not needs collective bargaining for those who perform services as studen

An employee at the supermarket you manage mopped one of the aisles in the store and placed signs at the ends of the aisle to warn people not to use the aisle until the floor dried.

Discuss about the three streams There come times, however, when these three streams are joined. An event in the political stream, such as a change in administration, calls for