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AUDITING BAC2664 Question 1 SVR Berhad, was incorporated on 1st January 2007 in enact to manufacture mini and micro computers. The Board of Directors is unsettled as to their responsibilities, and the nature of their relationship with the external attendees. The audit checkmate of HRM and Partners has asked you to palaver the client and explain to the directors their responsibilities and the more fundamental aspects of the duty of the connection and their relationship with the auditor. Required: Explain to the board of directors of SVR Berhad: (a) wherefore at that place is a accept for an audit; (5 marks) (b) How the auditor of a human beings company may be nominateed at a lower place the CA 1965; (5 marks) (c) What the auditors rights are under the CA 1965; (6 marks) (d) The ri ght of the directors in relation to the accounting functions of the client.

(4 marks) (20 marks) Answer a) (i) assure financial statements point a true and fair work out (ii) separ ation of ownership and control ! (iii) need for stewards/directors to be accountable to shareholders/owners, and also to other parties (iv) CA 1965 requirements stupefy been met v) company has keep proper books and registers b) Auditor appointed: i) On commencement of a new company, by the directors ii) at for each one GM at which financial statements are presented, the company shall appoint at each AGM (by the shareholders) iii) appointment is for the period of time tenure of site, i.e., AGM to AGM...If you want to get a full essay, decree it on our website: OrderCustomPaper.com

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