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

Relevance of ias / ifrs to auditing, RELEVANCE OF IAS / IFRS TO AUDITING ...

RELEVANCE OF IAS / IFRS TO AUDITING The auditors should involve in their report that their view on whether the financial statements they report are true and fair view. It is comm

Computation of significant ratios, Plz assist me with these questions Th...

Plz assist me with these questions The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now

Reference to expert in the auditor''s report, Reference to an expert in the...

Reference to an expert in the Auditor's Report When issuing an unmodified auditors report, the auditor should not refer to the work of the expert.  This is because such a refe

Internal Audit., #quInternal Audit checklist for fixed assetsestion..

#quInternal Audit checklist for fixed assetsestion..

Accounting treatment prescribed by ias 38, Accounting Treatment Prescribed ...

Accounting Treatment Prescribed by IAS 38 IAS 38 prescribes the accounting treatment about to intangible assets, except: a) Intangible assets which are under the scope of a

Audit procedures, audit procedure for shares or common stock

audit procedure for shares or common stock

Amounts derived from financial statements, Amounts Derived From Financial S...

Amounts Derived From Financial Statements Please note here the auditor is interested in preceding year's evidence since 1. The Companies Act states such corresponding amounts

Transferee liability, Transferee Liability - A person may be held LIABLE fo...

Transferee Liability - A person may be held LIABLE for another taxpayer's delinquent taxes if: 1. The transferee received assets of the transferor-taxpayer; and 2. The transf

Joint auditor, advantage and disadvantage of joint auditor?

advantage and disadvantage of joint auditor?

International auditing and assurance standards board, The International Aud...

The International Auditing and Assurance Standards Board The IAASB is a Board familiar by IFAC. The associates of the IAASB are selected by the IFAC Board to serve on IAASB. IA

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