a) Explain what company auditors are and how they are appointed and removed. b) Explain the duties and rights of auditors in a company.
Q: Discuss the role and function of external auditor for good corporate governance practices.
A: The dynamic and essential component of the business is corporate governance. Corporate governance…
Q: EXPLAIN HOW THE BOARD OF DIRECTORS MUST ENSURE THAT GOOD CORPORATE GOVERNANCE IS PRACTICED BY THE…
A: The board of directors is a group of executives who oversees organizational activities. They…
Q: State what is meant by cost accounting records and explaintheir importance in the conduct of an…
A: Cost accounting is a method of management accounting that attempts to capture the overall cost of…
Q: What are some of the ways the audit committee protects the company against litigation?
A: A company act is a comprehensive legal framework that plays a crucial role in shaping the corporate…
Q: describe..... How does company law require companies to disclose information about their business…
A: Transparency and accountability are critical components of any successful business, and companies…
Q: mention the main responsibilities of the board of directors illustrating degree of involvement of…
A: The board of directors are considered to be the representatives of the share holders who are the…
Q: Within the context of strong corporate governance, what is the board's role in dealing with the…
A: Corporate governance specifies a system or procedure that assists in guiding and controlling…
Q: Companies Act 2016 introduces the solvency test. The solvency test operates on the basis that a…
A: Section 112 and 113 of the Companies Act 2016 govern the solvency test and solvency statement.…
Q: Bring out the need and importance of Social Accounting from the given options; (1) Only commercial…
A: The need and importance of Social Accounting are outlined in the provided options. Let's analyze…
Q: xplain the importance of financial statements in a given enterprise
A: or any business keen to remain relevant in an increasingly competitive marketplace, the importance…
Q: Provide any 5 (five) acts that are deemed discreditable to the accounting profession that may affect…
A: Maintaining the financial credibility and integrity of businesses and organizations is largely…
Q: 11) Which of the following articles of incorporation items is found in the Model Business…
A: The Model Business Corporation Act was developed by the American Bar Association to provide the base…
Q: Corporate governance refers to the relationship among the board of directors, top management and…
A: Corporate governance is at the core of the effective running of a corporation. It works on the…
Q: What do auditors do if they find that applicable accounting principles are not being met when…
A: Any organisation, as we all know, requires certain standards and procedures to be followed.…
Q: Listed companies must send their financial statements to the authorities that oversee the stock…
A: A vital component of business accountability and transparency is the filing of financial statements,…
Q: In the conduct of audits of financial statements, it would be a seriousbreach of responsibility if…
A: Financial statements are described as the reports on the liquidity, performance, and financial…
Q: What role do auditors play in investor protection, and how can management ensure their independence?
A: The role of auditors in financial reporting and investor protection is a critical component of…
Q: Explainthe the relevance of having the 16 principles by the SEC Code of Corporate Governance for…
A: Corporate governance is a set of rules, practices, regulations, rules, and processes that control…
Q: Discuss the benefits and inconveniences by including management and staff in an organization's…
A: An external audit is an examination of a financial statement that is prepared by the organization.…
Q: Explain how does company law require companies to disclose information about their business…
A: Company law refers to the legal framework that governs the formation, operation, and dissolution of…
Q: How does the Code of Ethics help the professional accountants and professional information system…
A: A Code of ethics is a set of principles that was followed by all the members of the organization to…
Q: What are Company BO, Airplane maker Company B, and Agency A?
A: SpaceX, originally known as Space Exploration Technologies Corp., is a commercial aerospace…
Q: Which one of the following statements is FALSE? OA) Interest is tax deductible while the dividend is…
A: Every company must hold in every year in addition to any other meeting, a general meeting of its…
Q: Why open corporations are required to submit detailed reports to government agencies?
A: INTRODUCTION: An open corporation is a type of company where shareholders have the right to freely…
Q: Discuss the nonprofit organization's handling of budget and fundraising transparency, specifically…
A: Business ethics encompasses the moral standards and principles guiding behaviours and decisions…
Q: Identify the strengths and weaknesses of each term and their impact. Terms: Financial accounting…
A: strength and weekness of finanacial accounting system StrengthsA organization can check also on…
Q: 2. What fundamental ethical principles for accountants are most applicable and is there an apparent…
A: Fundamental ethics principles are those moral principles as well as standards which are set through…
Q: How fill Form 1120 Corporations with this info: (it's a fake company) For learning purposes only…
A: About: Form 1120 for corporations: Form 1120 is a United States Internal Revenue Service Tax Form…
Q: How do bankruptcy laws protect the rights of creditors and debtors in a business bankruptcy case?
A: Please find the answer below. BANKRUPTCY LAWS :- The process of declaring bankruptcy is…
Q: Identify 2 things that legally distinguish a 501 c 3 nonprofit enterprise from a “for profit”…
A: 2 Distinct features are as follows: 1. A 501 {c} (3) organizations are unique from other…
Q: Why is an auditor’s independence so essential?
A: Auditor is the person or any firm appointed through the company to implement an audit. In order to…
Q: An underwriter keeps shareholder records and prepares official lists of shareholders and dividend…
A: Underwriter is an individual or group that undertakes or assures or guarantees the company to buy…
Q: How can the failure to separate ownership, the board and management impaired the corporate…
A: The failure to separate ownership, the board, and management impaired the corporate governance of…
Q: What are the steps an accountant might go through in making the decision of whether and how to be a…
A: Whistleblowing means calling attention to wrongdoing that is occurring within an organization.…
Q: Look into the situation where a company that is bankrupt reports fake revenue. What effect these…
A: When a bankrupt company engages in the unethical practice of reporting fake revenue, it triggers a…
a) Explain what company auditors are and how they are appointed and removed.
b) Explain the duties and rights of auditors in a company.
Step by step
Solved in 4 steps