Co-operative societies and parastatals, Auditing

Assignment Help:

Co-operative Societies and Parastatals

Co-operative Societies

An audit in this case is carried out as a general audit except you should notice that the auditor is appointed through the Commissioner of Co-operatives and however he reports to the members the accounts must be registered along with the Commissioner.  Of specific note is such he is needed to carry out individual investigations on the bad debts provision to verify its adequacy and upon the good debts he has to validate their recoverability.

Parastatals

These are subject to audits through the Auditor General .The audit is carried out to any another company.

Central Government and Local Authorities

The audit of these accounts is governed again through the Audit and Exchequer Act and is carried out through Auditor General and the Controller who is accountable to the National Assembly there.


Related Discussions:- Co-operative societies and parastatals

Party disclosures used by ias 24, Party Disclosures used by IAS 24 IAS...

Party Disclosures used by IAS 24 IAS 24 utilized the following related party disclosures that 1. Nature of relationships between subsidiaries and parents, even whethe

Incremental costing analysis, Fleet Bhd operates a chain of high street ret...

Fleet Bhd operates a chain of high street retail outlets selling clothing and household items. In 1995, this company was heading for a financial loss and was deemed to have lost st

Current audit file, Current Audit File The current audit file might inc...

Current Audit File The current audit file might include inter alia: a) A copy of the audited financial statements and any report prepared as a result of audit work carried out

Responsibilities of the auditor, Responsibilities of the Auditor The Au...

Responsibilities of the Auditor The Auditor has no duty for the prevention and recognition of fraud and error though the annual audit might act as a restraint. As explained

Corporations generally issue stock dividends in order to, Q. Corporations g...

Q. Corporations generally issue stock dividends in order to a. increase the market price per share. b. exceed stockholders' dividend expectations. c. increase the marketability of

Valuation and income - verification procedures, Valuation and Income - Veri...

Valuation and Income - Verification Procedures Valuation Valuation of listed securities is easily conformed along with suitable financial publications. Directors' valua

Pending litigation - audit process, Pending Litigation - Audit Process ...

Pending Litigation - Audit Process Since of the inherent uncertainty, in calculating the outcome of legal actions so this is an especially difficult area for the auditor. Seve

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