You have recently qualified as a chartered accountant in South Africa. You have started a new...

 

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You have recently qualified as a chartered accountant in South Africa. You have started a new role as an External Audit Consultant, assisting a range of clients with their audit work. Upon reviewing two of your clients' accounting records, you have gathered the following information for analysis; Turnover Non-executive directors Net profit before tax Average employees for the year Accounts owed by 3rd parties Accounts owed to 3rd parties ABC Ltd R 8.25m 5 3.75m 63 5.2m 2.6m Donations 0.2m Individuals with direct/indirect interest in the company 9 XYZ Ltd R 10.25m 6 1.25m 202 4.7m 1.8m 0.1m 23 Required: 2.1 Provide a detailed explanation on the public interest score 2.2 Calculate the PI Score for ABC Ltd and XYZ Ltd You have recently qualified as a chartered accountant in South Africa. You have started a new role as an External Audit Consultant, assisting a range of clients with their audit work. Upon reviewing two of your clients' accounting records, you have gathered the following information for analysis; Turnover Non-executive directors Net profit before tax Average employees for the year Accounts owed by 3rd parties Accounts owed to 3rd parties ABC Ltd R 8.25m 5 3.75m 63 5.2m 2.6m Donations 0.2m Individuals with direct/indirect interest in the company 9 XYZ Ltd R 10.25m 6 1.25m 202 4.7m 1.8m 0.1m 23 Required: 2.1 Provide a detailed explanation on the public interest score 2.2 Calculate the PI Score for ABC Ltd and XYZ Ltd

Answer rating: 100% (QA)

21 The Public Interest Score PI Score is a calculation used in South Africa to determine the level of public interest in a company It is relevant to c... View the full answer