How can an auditor be criminally liable under the Companies Act?
Question:
How can an auditor be criminally liable under the Companies Act?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
An auditor can be criminally liable under the Companies Act or other relevant laws for various reasons related to their audit work Some common situati...View the full answer
Answered By
Patrick Busaka
I am a result oriented and motivated person with passion for challenges because they provide me an opportunity to grow professionally.
5.00+
38+ Reviews
58+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Under what conditions may a foreigner be allowed to practice accountancy in the Philippines? 2. What are some of the indications of a client's noncompliance with laws and regulations relative to...
-
Select the statement that is incorrect. In relation to replaceable rules: a. If a company decides not to draft its own constitution, the replaceable rules provide the basic internal rules required...
-
A corporation is a fictitious legal person that is granted legal existence by the state when certain requirements are met. A corporation cannot act on its own behalf. Instead, it must act through...
-
Lets assume the client in the fact pattern in this weeks discussion board did not want to purchase the mothers house (in other words, forget about only those facts) and now has been appointed as the...
-
Griddley Company borrowed $80,000 from the East Salvador Bank on February 1, 2008, on a three-year, 7.2 percent note. Interest is paid annually on January 31. Required: 1. Record the borrowing...
-
Selected balance sheet and income statement information from General Electric Company and its two principal business segments (Industrial and Financial) for 2012 follows. a. Compute times interest...
-
Two residents of California filed a lawsuit against Hertz Corporation on behalf of a group of people arguing that the companys labor practices were illegal. The corporation was labeling workers as...
-
Central Garage Internal Service Fund. The City of Ashville operates an internal service fund to provide garage space and repairs for all city-owned-and-operated vehicles. The Central Garage Fund was...
-
Explain bank runs. Discuss the measures that the U.S. took to address the bank runs of the Great Depression, and the implications of those actions.
-
You are an audit partner with Tickett & Run and three months ago you signed off the audit of Blastypot plc, a large engineering group with several subsidiaries. The turnover of the group was 750m and...
-
Fisch & Schipp are the auditors to AHM Publishing Co. Ltd, publishers of textbooks. They carried out the audit for the year ended 31 December 202X and signed an unqualified audit report. Shortly...
-
Using the information from P6-6A, complete the following Form 941 for the first quarter of 2022. The report was signed on April 15, 2022. EIN: 78-7654398 Address: 23051 Old Redwood Highway,...
-
5. In the board game Monopoly, you roll two dice on your turn. If you roll doubles, you get another turn. If you roll doubles again, you get a third turn. If you roll doubles on your third turn, you...
-
Calculating Fees on a Loan Commitment You have approached your local bank for a start-up loan commitment for $1,060,000 needed to open a car repair store. You have requested that the term of the loan...
-
Discuss the financial crisis that happens in 2008 in USA. Explain how Lehman brothers have been bankrupt and how GP Morgan has been exempted.
-
Marigold Corp. had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2021 $454,000 $281,000 2022 $534,000 $331,000 2023 $664,000 $431,000...
-
Consider a market model with three assets: two risky assets (#1 and #2) and one risk-free asset (#3). The risk-free rate of interest is r=3%. The parameters of the risky returns are as follows: =...
-
VanKlief Golf Company has requested that you perform a vertical analysis of its balance sheet to determine the component percentages of its assets, liabilities, and stockholdersequity. A1 VanKlief...
-
Evaluate the integral, if it exists. Jo y(y + 1) dy
-
Why is the monthly reconciliation of bank accounts by an independent person an important internal control over cash balances? Which individuals will generally not be considered independent for this...
-
Evaluate the effectiveness and state the shortcomings of the preparation of a bank reconciliation by the controller in the manner described in the following statement: "When I reconcile the bank...
-
How do bank confirmations differ from positive confirmations of accounts receivable? Distinguish between them in terms of the nature of the information confirmed, the sample size, and the appropriate...
-
When MOH is overapplied, COGS must [Select] [Select] . COGS is a(n) account, so complete the following journal entry. Journal Excerpt [Select] [Select] Assume that the entirety of MOH is closed out...
-
Calculate the unit product cost for job 01-9002x. Pfenniger Company, based in Chicago IL, manufactures high-end electrical components used by contractors throughout North America. The company uses a...
-
Fund balance, both nonspendable and unassigned, can be computed from a limited amount of information. The schedule that follows reports the beginning balances and activity during the year in a town's...
Study smarter with the SolutionInn App