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

Audit report, impact on audit report of going concern

impact on audit report of going concern

Types of transaction - related party, Types of Transaction - Related Party ...

Types of Transaction - Related Party Fundamentally two types of transactions which arise between a related party and a company as: A. It is usual for members of a collectio

Classification of individual business risk, Classification of Individual Bu...

Classification of Individual Business Risk Individual business risk can be low or high impact and low or high likelihood. Here are some illustrations for a satirical magazine.

Audit report, You are auditing XYZ company for the year ended 12/31/2012 an...

You are auditing XYZ company for the year ended 12/31/2012 and will be expressing an opinion on their financial statements as of that date. You completed your field work on 1/21/13

Assinment, what is the nature and scope of forensic auditing?

what is the nature and scope of forensic auditing?

Types of audits, Types of audits So far we have tended to think in term...

Types of audits So far we have tended to think in terms of the audit of limited companies, and indeed, the emphasis throughout this text will be on such companies incorporated

Specialized audit situations, Specialized Audit Situations Companies c...

Specialized Audit Situations Companies carry on thousands of different types of trade, business or professional activities.  It is not possible in a manual on general auditing

Explain audit risk -identify factors- audit work-planning , You are the par...

You are the partner in charge of the audit of Drugs4U Ltd, a company which develops, manufactures and sells to the a trade market a wide range of drugs which promote healthy living

Audit of accounting estimates, Audit of Accounting Estimates An accoun...

Audit of Accounting Estimates An accounting estimate is described in ISA 540 Audit of Accounting Estimates as 'an estimation of the amount of an item in the absent of a precis

Ias 40 investment properties, IAS 40 Investment Properties Audit work ...

IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a

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