QUOTE(richard831 @ Jul 2 2013, 10:13 PM)
The other half is: You need to understand the Company Act and if the records are keep in accordance to the Act. Any findings need to be rectify by the Secretary or else will be report to the Audit Committee for further actions.
Last resort will be to state a different opinion on the final report..
"In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company and its subsidiaries of which we have
acted as auditors have been properly kept in accordance with the provisions of the Act."
Therefore as an auditor you need to know not only debit and credits but various Acts such as Company Acts, Income Tax Act, BAFIA, Anti Money Laundering Act (AMLA), Securies Commission regulations, MIA by-laws on what can an auditor do and what auditor cannot do...
Haha.. so Think before you really want to go into audit line.. the title and everything you do sounds glamour.. But how many out there are competent enough to carried out audits.. Sometimes these so called "auditors" are laughing stock as they failed to understand before engaging.
expenses incurred on statutory audit is deductible under special deduction under audit expenses pursuant to rules 129/2006 smtg
any other audit (interim audit / due diligence ) expenses are not deductible
Jul 2 2013, 10:29 PM

Quote
0.0285sec
0.60
7 queries
GZIP Disabled