Penalty for improper appointment, Business Law and Ethics


          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
Question 1: Describe in what ways Henry Mintzberg, Kotler, Luthans and Stewart have identified the roles and skills of a manager? Question 2: Show how Maslow's hierarch

Self-Control : Most entrepreneurs believe they can do the job better than anyone else and will strive for maximum responsibility and accountability. An entrepreneur needs to maint

Describe the policy making realities Rational models simply do not describe policy making realities. As policy actors seldom evaluate very many alternatives for action or compa

Requisites in Form - Negotiable Instruments  To satisfy to the statutory definition the document alleged such to be a bill of exchange must be: like  (a) Unconditional. Example

Corporation Aggregate - Types of Corporations However this is a legal entity formed through at least two people and whose membership at any one time legally concludes of a

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

Define the act of Obstructions of Justice UNCTOC has also criminalized the act of Obstructions of Justice and it is stated in the Article 23 that. "Each State Party shall adopt

Define the term - policy elites A community of policy activists having somehow, a dominant position in policy process, called policy elites. They are guided by a substantive pro

VOIDABLE ALLOTMENTS: An allotment of shares is voidable if it is made in breach of- a)      Section 49 (1): by having been made before the minimum subscription was raised o

Limited Partnerships Through virtue of the Limited Partnerships Act, such the liability of certain partners that may be limited to a certain extent. Further the chief provisions