Advocates - specialized audit situation, Auditing

Assignment Help:

Advocates - Specialized audit Situation

The statutory provisions regulating the handling of client's monies are covered in the advocate's act.

Reason of the rules:

  1. To need a lawyer to remain client's money separate from his own money;
  2. To certain about that a lawyer remains adequate records of his transactions because his books show money obtained and paid and balance held on account of each client;
  3. To make sure that one client's money is clearly differentiate from that of another clients and from any another money passing with the lawyer's accounts.

Broad effects of the rules:

  1. That money received through a lawyer that does not belong to him should be dealt along with the client account;
  2. That his own money is remained in an office account.

Related Discussions:- Advocates - specialized audit situation

Procedures followed in conducting an audit, Procedures followed in Conducti...

Procedures followed in Conducting an Audit Procedures generally followed in conducting an audit by more than one firm of accountants and the division of work between them.

Internal control systems, Internal Control Systems ISA 400: “Internal c...

Internal Control Systems ISA 400: “Internal control system” means all the policies and processes (i.e., internal controls) accepted by the management of an entity to assist in

Online exam, online exam in Auditing class. the exam will be about 2 hr. ...

online exam in Auditing class. the exam will be about 2 hr. Thank you

Corporate governance, what are requirements for a company to comply with ki...

what are requirements for a company to comply with king code?

Types of audits, Types of audits As far we have tended to think in sta...

Types of audits As far we have tended to think in state of the audit of limited companies, and certainly, the emphasis during this text will be on that companies incorporated

Action if management refuses to provide representations, Action if Manageme...

Action if Management Refuses to Provide Representations If management refuses to provide a representation that the auditor considers essential, this constitutes a scope restric

Assertions about disclosure, Assertions about disclosure Assertions ...

Assertions about disclosure Assertions about disclosure and presentation : a) Rights and Occurrence and obligations -disclosed transactions and events and other issues

Roles of the auditor, What is the role of the auditor, and what are the key...

What is the role of the auditor, and what are the key duties the auditor must carry out? Role of the Auditor In modern commercial environmental it is desirable that bus

Cloud 9 pty ltd case study, Using the 30 September 2011 trial balance (appe...

Using the 30 September 2011 trial balance (appendix to this case study) calculate planning materiality and include the justification for the basis that you have used for your calcu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd