2 Rules and regulation Flashcards
What are the three initiatives which was introduced?
Harmonisation
On audit quality
Ethical code
What regulatory guidance do auditors need to follow?
National corporate law
Auditing standard
Code of ethics
What does national law include?
What companies are required to have an audit
Who can and can’t carry out an audit
Auditor appointment, resignation and removal
The rights and duties of an auditor
To be eligible as an auditor, a person must be:
A member of a recognised supervisory body
Someone directly authorised by the state
Who appoints the auditor?
Members/directors/secretary of state
When are auditors of public companies appointed?
At each AGM
When are auditors appointed of private companies?
Until they are removed