Topic 2 - Statutory Audit and Regulation Flashcards
1
Q
Who may act
A
Recognised supervisory body - ACCA
Allowed by the rules of that body
Appointed by the state
2
Q
Who may not act
A
An officer of the company
Employee of the company
business partner
Excluded by ethics
close relationship
fee dependency
non-audit service provided.
3
Q
Appointment
A
members/shareholders of the company
Directors fill casual vacancy
state if company cannot
4
Q
Removal
A
Majority vote at general meeting
special notice given by law
Report resignation and circumstance to shareholders
