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AUDITING BAC2664 Question 1 SVR Berhad, was incorporated on 1st January 2007 in enact to manufacture mini and micro computers. The Board of Directors is fainthearted as to their responsibilities, and the nature of their relationship with the external auditors. The audit companion of HRM and Partners has asked you to palaver the client and explain to the directors their responsibilities and the more fundamental aspects of the answerability of the connection and their relationship with the auditor. Required: Explain to the board of directors of SVR Berhad: (a) wherefore at that place is a accept for an audit; (5 marks) (b) How the auditor of a human beings company may be nominateed under(a) the CA 1965; (5 marks) (c) What the auditors rights are under the CA 1965; (6 marks) (d) The right of the directors in relation to the accounting functions of the client. (4 marks) (20 marks) Answer a) (i) insure financial statements point a true and fair glance (ii) separation of ownership and control (iii) need for stewards/directors to be accountable to shareholders/owners, and also to other parties (iv) CA 1965 requirements stupefy been met v) company has well-kept proper books and registers b) Auditor appointed: i) On commencement of a new co! mpany, by the directors ii) at for each one GM at which financial statements are presented, the company shall appoint at each AGM (by the shareholders) iii) appointment is for the period of time tenure of property, i.e., AGM to AGM...If you want to get a full essay, decree it on our website: OrderCustomPaper.com

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