Misfeasance by the auditors, Business Law and Ethics

Assignment Help:

Misfeasance by the auditors:

However it is not sufficient to describe that the frauds must have been detected whether the entries in the books had been put mutually in a way which never occurred to any one before suspicion was aroused.  The question is where, no suspicion of anything wrong being   entertained, there was a want of reasonable care on the part of the auditors in relying on the returns made through a competent and trusted expert relating to matters on where as information from such a person was essential. So I can't think there was.  The manager had no apparent conflict between his his duty and interest also.  Therefore his position was not similar to that of a cashier who was to account for the cash that he receives, and other, whose own account of his receipts and payments could not reasonably be taken by an auditor without further inquiry.

                   LOPES,LJ.:" ... (1) What is a misfeasance within the way of S.324(1)?

Therefore now 'Have the auditors in the circumstances of this case committed a misfeasance?'  Since it has been held that an auditor is an officer within the meaning of the Section as:- like 'In RE LONDON AND GENERAL BANK'.  So but has there been any misfeasance by the auditors?  Thus now this depends upon what meaning is to be assigned to the word "misfeasance" as used in this section.  The learned moderator or judge in the court below held that misfeasance covered any misconduct by an officer of the company as such for which such officer might have been sued apart from the section.  In my judgement this is too wide.


Related Discussions:- Misfeasance by the auditors

Types of authority - agency law, Types of Authority - Agency Law Furth...

Types of Authority - Agency Law Further there are three types of authority namely like:; (a) Real or factual However this is the authority that in fact is given to the

Define the act of obstructions of justice, Define the act of Obstructions o...

Define the act of Obstructions of Justice UNCTOC has also criminalized the act of Obstructions of Justice and it is stated in the Article 23 that. "Each State Party shall adopt

Analytical judgment, FutureEd corp., a Bangladesh based catering company ha...

FutureEd corp., a Bangladesh based catering company has decided to extend its catering business in the main divisional cities. They have come up with the decision to open up some r

Criminal-justice system, Models for a criminal-justice system based on an e...

Models for a criminal-justice system based on an ethos of rehabilitation and reintegration ... have been regarded as idealistic but unworkable in the real world, except perhaps in

Problem question, how do i answer a problem question in law base on the law...

how do i answer a problem question in law base on the law of contract for final assesment

Define the term - bliss point, Define the term - bliss point A country...

Define the term - bliss point A country's bliss point is the outcome of monetary growth rates that gives that country its highest possible level of welfare. The bliss point fo

Online exam in Business Law, #questonline exam of business law about 20 qes...

#questonline exam of business law about 20 qestions ( T and F , MC, and short answers ) The exam will open just for two hours The exam will start half of hour from now >> can yo

Values, V alues Basic convictions or beliefs which are specific beh...

V alues Basic convictions or beliefs which are specific behaviors and out- comes are more desirable compare to others. Values are judgmental in which they include our ideas

Suing and being sued, Suing and being Sued:            Because a compa...

Suing and being Sued:            Because a company is at law a different person altogether from its members it follows that a wrong to, or by, the company does not legally con

Acceptance - element of contract, Acceptance - Element of Contract Howev...

Acceptance - Element of Contract However this is the external manifestation about assent through the offeree.  Regarding to acceptance an agreement comes with existence between

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