QUESTION THREE [20] The Companies Act 2008 requires that public companies are audited by an external...

 

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QUESTION THREE [20] The Companies Act 2008 requires that public companies are audited by an external firm of auditors each year. Most public companies employ a number of chartered accountants; have strong internal audit departments and efficient internal controls which translate into high standards of corporate governance. It therefore seems to be a waste of time and money to require such companies to be audited annually. You are required to discuss the above statement indicating whether or not you agree with it. QUESTION FOUR 4.1. List and explain the circumstances where government charges for services. 4.2. Explain the concept of a cost-volume analysis and its usefulness. 4.3. Discuss the factors that affect an outsourcing decision. [30] (12) (8) (10) QUESTION THREE [20] The Companies Act 2008 requires that public companies are audited by an external firm of auditors each year. Most public companies employ a number of chartered accountants; have strong internal audit departments and efficient internal controls which translate into high standards of corporate governance. It therefore seems to be a waste of time and money to require such companies to be audited annually. You are required to discuss the above statement indicating whether or not you agree with it. QUESTION FOUR 4.1. List and explain the circumstances where government charges for services. 4.2. Explain the concept of a cost-volume analysis and its usefulness. 4.3. Discuss the factors that affect an outsourcing decision. [30] (12) (8) (10)