Chapter 2.2 Auditors Rights & Duties

Question 1

Rights of Auditor

Answer 1

1. Access at all times to the books and records
2. Receive info and explanations
3. Receive notice of/Attend any AGM
4. Receive written resolutions
5. Speak at AGM (audit matter)
6. Request on EGM for resignation purposes

Question 2

Duties

Answer 2

1. Report opinion on whether FS are fairly presented
2. Additional statutory requirement

Question 3

Additional statutory requirement

Answer 3

1. Adhere to local law/relevant legislation
2. Maintain adequate acctg records & returns
3. Ensure FS agree to records
4. Ensure consistency of other info (Eg. consistent with directors report)
5. Ensure disclosure of directors benefit