QUESTIONS ON APPOINTMENT OF AN AUDITOR
QUESTION ONE
- Why is an external audit necessary for companies registered under the Companies Act? (4 marks)
- Under what circumstances is one ineligible for appointment as an auditor of a company? (4 marks)
- Explain the procedure a company has to follow when changing its auditors. (6 marks)
- List the rights and duties of an independent auditor. (6 marks)
(Total 20 Marks)
QUESTION TWO
- Write down steps to be followed before accepting nomination as an auditor.
(Total 20 Marks)
QUESTION THREE
- What is the purpose of sending an engagement letter to a new client? (10 marks)
- Under what circumstances is it necessary to amend a letter of engagement? (10 marks)
(Total 20 Marks)
QUESTION FOUR
- List the ethical guideline issued by ICPAK to its members
(Total 20 Marks)