DUTIES OF THE AUDITOR
To report to the members on each set of accounts laid before the company in the general meeting, whether in his opinion.
- The balance sheet gives a true and fair view of the state affairs of the company as at the balance sheet date.
- The profit and loss gives a true and fair of the profit (or loss) for the period ended on that date.
- The accounts comply with the requirements of the company’s Act.
- Duty to state the following in his report.
- Whether the auditor has received all the information and explanations which in his opinion was necessary for his audit.
- Whether he received adequate returns from branches not visited.
- Whether in his opinion proper accounting records have been maintained.
- Whether the accounts are in agreement with the underlying records.
- Duty to provide working papers.
An auditor has a duty to assist investigators in to the company’s affairs by providing his working papers, which are summaries of significant matters identified by the auditor during the course of the audit.
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Duty to certify a statutory report regarding.
- Number of shares sold by the company.
- Cash received in respect of allotment.
- Duty to certify the P&L and Balance Sheet in a prospectus.
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To include in his report any required information about the directors remuneration which has been omitted from the accounts.
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To consider if any information in the directors report is inconsistent with the accounts and to report the facts if there are any such instances.