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non-statutory auditsthe non-statutory audits are performed through independent auditors sicne the owners proprietors trustees members and
statutory audits the audits are compulsory below statute in the case of a large amount of number of undertakings involving the following
types of auditsas far we have tended to think in state of the audit of limited companies and certainly the emphasis during this text will be on that
auditorfurther point to note is which modern companies can be exclusively large along with multi-national activities so preparing accounts for
need for an auditwhether you take an example for a modern large liability company such we can clearly differentiate between those who control those
list the internal controls that should be in effect solely because a edp system is employed classifing them as 1 those controls pertaining to input
postage stamps 220 currency and coins 115660 how much petty cash fund shall be shown as part of cash balance
i need a 5 schedules like the sample on the attachment please follow the instructions you will see in the instructions attachments 4
general advantages and disadvantages of joint auditsadvantagesall work and fees are welcome to audit firmsan opportunity to closely inspect the
checking consolidation papersthe auditor pays particular attention to the calculation ofgoodwill arising on acquisition and
co-operative societiesan audit in this case is carried out as a normal audit except you should note that the auditor is appointed by the commissioner
advocatesthe statutory provision regulating the handling of clientrsquos monies is covered in the advocates actprinciple of the rulesto require a
pension fundspension funds are set up by companies or other organizationsa to administer the pension payable to retired employees andb ensure that
share and depositsshares may consist of subscription shares and paid up shares interest on shares might be credited to the accounts rather than being
banks under companies actbanks are incorporated under the companies act like any other business but are granted special privileges under the same
banks featuresa profit and loss account when looking at a banks profit and loss account the accountant should seek to discover what proportions of
banksthe authoritative documents arethe central bank of kenya act the companies act cap 486ias 30 disclosure in the financial statements of banks and
current audit filethe current audit file might include inter aliaa a copy of the audited financial statements and any report prepared as a result of
permanent audit filethe permanent audit file might include inter aliaa a copy of the enterprises statutes and other legal or statutory documents
statistical techniquesfactors to be taken into consideration before adopting statistical techniquesa the number of clients to whom it is appropriate
statistical sampling ndash advantagesa it is scientific and defensibleb it provides a precise mathematical statement about probabilities of being
judgmental samplingthe judgement sampling is where auditor using his own experience and awareness of the clients business and situations selects the
audit samplingisa 530 audit sampling and other selective testing procedures states audit sampling is the application of a compliance or substantive
action if management refuses to provide representationsif management refuses to provide a representation that the auditor considers essential this
reference to an expert in auditorrsquos reportwhen issuing an unmodified auditorrsquos report the auditor must not refer to the work of the expert