224 Appointment and remuneration of auditors 224A Auditor not to be appointed except with the approval of the company by special resolution in certain cases 225 Provisions as to resolutions for appointing or removing auditors 226 Qualifications and Disqualifications 227 Powers and duties of auditors 228 Audit of accounts of branch office of the co. 229 Signature of audit report 230 Reading and inspection of auditor’s report 231 Right of auditor to attend general meeting 232 Penalty
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Carl Robins has a major problem, he has been put in a situation that the company he works for has not prepared him for. The problem is bigger than Carl; it is just that his current situation is what brings the problem to light. The company’s problem comes from within, an internal problem that derives from poor management. To help Carl and the company he works for overcome this problem, we must identify what causes these problems. Background Initially after reviewing the case study
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responsibility to make the right decision regarding unethical conduct of Encik Selamat, she can convince Board of Directors about En. Selamat. If she failed to convince BOD to take action, she can then reveal the issue to the auditor, besides mentioning to the auditor the lack of segregation of duty in the business operation. She can execute and monitor implementation and performance of employees under her responsibility and convince her friend, Puan Azura to do the same. What should Ms. Choy do? Analysis:
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group in logistics and travel related businesses. It was one of the biggest government linked public listed companies in Bursa Malaysia. However THI had suffered major losses due to the global economic downturn in 2009. Idrid felt it was his patriotic duty to bring TIH onto the road recovery. While conducting a review of the THI group , he came a discrepancy in the form of an investment in Malaysian Turkistan Travels Sdn Bhd. The investment is made by a subsidiary company of Travel Investment Holdings
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(American Accounting Association, Statement of Basic Auditing Concepts) Auditing gathers and evaluates evidence with respect to the information created by directors and accountants. It is an evaluation process Auditor reports on the fairness of the report on use of resources and discharge of duty by the directors after critically examining the assertions it contains against; available evidence and establishing criteria for presenting the report Types of audit External audits: primarily for the benefit
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Auditing in a Globalized Business world There are two main objectives of auditing. The primary objective and the secondary or incidental objective. a. Primary objective – as per Section 227 of the Companies Act 1956, the primary duty (objective) of the auditor is to report to the owners whether the balance sheet gives a true and fair view of the Company’s state of affairs and the profit and loss A/c gives a correct figure of profit of loss for the financial year. b. Secondary objective –
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Employees are faced with various ethical decisions while working for companies. Many of these decisions should be determined by strong morals; however, the right decision is not always the easy decision. In the accounting world, auditors are faced with several ethical dilemmas including obligations employees have for the firm, obligations employees have to third parties, and conducting personal business on company time. ### Employees are hired to do something for the company. They obligate themselves to
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CORPORATE FRAUD & THE ROLES OF AUDITOR (BANGLADESH PERSPECTIVE) Submitted To: Tahmina Ahmed Lecturer Department Of Accounting And Information Systems University Of Dhaka. Submitted By: Group No. 02 ID 18003 18051 18053 18073 18089 18200 NAME Safiqur Rahman Mahadin Anik Mahmudul Islam Arnab Kumar Chakrabartty Abdullah Al Noman Namrata Chakma Date of Submission: November 11, 2014. 1|Page This Report Includes The Following Contents Chapter No. Contents Page No. 01.Introduction 1.1 1.2 1
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(3) Rotation of audit partners (4) Auditor reports to audit committees (5) conflicts of interests (6) CEO and CFO certification of annual and quarterly reports and (7) Internal control report and auditor attestation. The necessary requirements concerning internal control for public companies. A discussion of the types of services considered unlawful if provided to a publicly held company by its auditor. A discussion of the broader impact of the act on auditors. Lastly, a discussion from the legal
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Assignment: Following are some independent situations with reference to liability of an auditor: 1. Mr. Touseef, the bookkeeper, had embezzled a large sum of money by manipulating the ‘Wage Sheet’. He was incharge of voucher, wage sheet and many other documents. There is no system of internal check in the organization. Later on, the auditors were appointed to conduct a continuous and detailed audit but they failed to find the embezzlement. 2. Mr. Atif was director of a company. He needed more
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