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Can statutory audit be done after tax audit?
Statutory Audits are those mandated by a statute. So by that definition even tax audit is a statutory audit.The management of the organization makes the appointment of an internal auditor. The statutory auditor is appointed by different authorities. First statutory auditors are appointed by the shareholders in the annual general meeting. The main object of the statutory audit is to form an opinion on the financial statement of the organization auditor has to state that whether the financial statements are showing the true and fair view of the affairs of the organization or not. The main object of the internal audit is to detect and prevent the errors and frauds.The scope of the statutory audit is fixed by the company act. it can not be changed by mutual consent between the auditor and the management of the audited business unit. The scope of the internal audit is fixed by the mutual consent of the auditor and the management of the unit under audit.
What is Low-balling in audit fee?
Low balling in audit fee is happened when an auditor offers a lower fee than current auditor. The successor auditor does not expect to obtain much benefit in first year as its fee is very law, but successor auditor expects to obtain more benefits in next year.
What is a burggrave?
A burggrave is a person who was appointed to the command of a burg, especially in German-speaking Europe.
Who is Walt Disney company external auditor?
PricewaterhouseCoopers
What are the Components of audit expectation gap?
Expectation gap caused by unrealistic user expectations such as:1. The auditors are providing complete assurance.2. The auditor is guaranteeing the future viability of the entity .3. An unqualified audit opinion is an indicator of complete assurance.4. The auditor will definitely find any fraud.5. The auditor has checked all transactions.
What are the qualifications to register as a auditor in sri lanka?
Qualifications of auditors.(1) A person shall not be appointed or act as auditor of a company, unless that person-(a) is a member of the Institute of Chartered Accountants of Srilanka or(b) is a registered auditor.(2) Notwithstanding the provisions of subsection (1), a person shall not be appointed or act as auditor of a company other than a private company or a company limited by guarantee, unless that person is a member of the Institute of Chartered Accountants of Sri Lanka.(3) None of the following persons may be appointed or act as an auditor of a company :-(a) a director or employee of the company;(b) a person who is a partner or in the employment of a director or employee of the company;(c) a liquidator or an administrator or a person who is a receiver in respect of the property of the company ;(d) a body corporate ;(e) a person who, by virtue of paragraph (a), (b) or (c), may not be appointed or act as auditor of a related company.(4) A person who holds any office referred to in paragraph (a), (b) or (c) of subsection (3), may not be appointed or act as an auditor of a company for a period of two years after such person has ceased to hold that office.(5) Regulations may be made providing for -(a) the qualifications necessary to become a registered auditor;(b) the procedure for the registration of auditors;(c) the fees payable for such registration
Who can be and who can not be appointed as auditor of a company?
Led Zeppelin, of course.
Who was the first auditor general of India appointed in 1860?
Sir Edward Drummond was the first auditor general of India in 1860.
Under which article of the indian constitution is the comptroller and auditor general of india appointed?
Artical 146
Which person are not qualified for the appointment as auditor of the company under the companies ordinance 1984?
) A person shall not be qualified far appointment as an auditor,-(i) in the case of a public company or private company which is subsidiary of a public company unless he is a Chartered Accountant within the meaning of the Chartered. Accountants Ordinance, 1961 (X of 1961); and(ii) in the case of a private company having paid up capital of three million rupees or more unless he is a Chartered accountant within the meaning of the Chartered Accountants Ordinance, 1961(X of 1961).(2) A firm where if all the partners practicing in Pakistan are Chartered Accountants may be appointed by its firm name as auditors of a company referred to in subsection (1) and may act in its firm name.(3) None of the following persons shall be appointed as auditor of a company, namely:-(a) a person who is, or at any time during the preceding three years was, a director, other officer or employee of the company;(b) a person who is a partner of or in the employment of, a director, officer or employee of the company;(c) the spouse of a director of the company;(d) a person who is indebted to the company;[ ](e) a body corporate; and(f) a person or his spouse or minor children, or in case of a firm, all partners of such firm who holds any shares of an audit client or any of its associated companies:Provided that if such a person holds shares prior to his appointment as auditor, whether as an individual or a partner in a firm the fact shall be disclosed on his appointment as auditor and such person shall disinvest such shares within ninety days of such appointment.Explanation. - Reference in this section to an "officer" or "employee" shall be construed as not including reference to an auditor.(4) A person shall also not be qualified for appointment as auditor of a company if he is, by virtue of the provisions of sub-section (3), disqualified for appointment as auditor of any other company which is that company's subsidiary or holding company or a subsidiary of that holding company.(5) If, after his appointment, an auditor becomes subject to any of the disqualifications specified in this section, he shall be deemed to have vacated his office as auditor with effect from the date on which he becomes so disqualified.(6) A person who, not being qualified to be an auditor of a company, or being or having become subject to any disqualification to act as such, acts as auditor of a company shall be liable to fine which may extend to twenty-five thousand rupees.(7) The appointment as auditor of a company of an unqualified person, or of a person who is subject to any disqualifications to act as such, shall be void, and, where such an appointment is made by a company, the Commission may appoint a qualified person in place of the auditor appointed by the company.
What is a person in a inventory work called?
auditor
A person is appointed as an executor of dec estate.If that person then becomes incompetent to manage his affairs and an administrator is appointed by vcat can that person take over his fiduciary role?
The duty cannot be transferred in that manner. The court has to appoint a new executor.
Whats called a person facing Audit from Auditor?
A person facing an audit is called a pre-clear. This means that they have not been cleared yet by the auditor.
What is the name of a person who checks accounts?
where is the aanswer
Important question of bcom 3rd year audit paper?
Who is an auditor? How can he be appointed and draw out his qualities? What is Direct tax and indirect tax?
What if no one wants to be an executor?
Then another person will need to be appointed such as an attorney.Then another person will need to be appointed such as an attorney.Then another person will need to be appointed such as an attorney.Then another person will need to be appointed such as an attorney.
His person is in charge of approving all payments made by the state?
a: auditor
