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 when fraud is suspected, Procedures When Fraud is suspected ...

Procedures When Fraud is suspected Whenever the auditor encounters situation that might indicate that there is a material mis-statement in the financial statements resultant fr

Brand names - audit process, Brand Names - Audit Process Few companies...

Brand Names - Audit Process Few companies in current years have placed valuations on the brand names of the goods such they sell.  On the balance sheet the valuation is shown.

Going concern considerations - audit process, Going Concern Considerations ...

Going Concern Considerations - Audit Process IAS 1 Presentation of Financial Statements knows the going related assumption as one of the fundamental assumptions that underlie

Discuss the value of external audit, The management of a newly incorporate...

The management of a newly incorporated company is unsure as to the need for an audit. Your services have been requested to explain to management the concept of auditing. Requir

The existence of the auditing profession, Auditing appears to be a worse of...

Auditing appears to be a worse of time considering financial fraud cases in Zimbabwe and world over. Justify the existence of the audit profession and what to be done to improve it

Cost and authorization - auditing process, Cost and Authorization - Auditin...

Cost and Authorization - Auditing Process The cost of building and land acquired while the year should be vouched to suitable documentation.These are contract of sale, surveyo

Marginal costing, methods of determining break even point

methods of determining break even point

Inclusion in a report of investigation, Question : (a) Describe the fol...

Question : (a) Describe the following terms: 1) Forensic Accounting; 2) Forensic Investigation; 3) Forensic Auditing. (b) Explain the basic elements to consider for

Charities and non governmental organizations, Charities and Non Governmenta...

Charities and Non Governmental Organizations Key audit areas: Income: donations therefore are not easy to confirm good internal control is needed particularly o

Briefly describe how the complexity of an entity''s ics, Auditors use vario...

Auditors use various tools to document their understanding of an entity's internal control system, including narrative descriptions, internal control questionnaires, and flowcharts

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