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Pension Funds
Pension funds are set up by companies or other organizations:(a) To administer the pension payable to retired employees and(b) Ensure that funds are available to pay pensions even if the sponsoring organization goes into liquidation. The auditor’s duties involve:
Question: (a) What is an audit? Why there is need for an audit? (b) Explain the steps the auditor must take before deciding whether to accept the nomination as auditor. (
Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org
Cash and Window Dressing - Building Society Cash Possibility of misappropriation and error usually accompany the handling of cash. Building societies transactions towards
Contents of Working Papers - Audit The ISA 230 No.3 stresses which audit working papers may always be adequately complete and detailed to enable an experienced auditor along w
Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market
For each of the following situations, describe how risk of material misstatement should be assessed and what effect the assessment will have on detection risk. (i) Johnson is a
what is confirmation letter?
Managements interest in the accounting system Management needs complete and accurate books of accounts because: There is no other way the business can be controlled; Rec
the features of statistical sampling
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