Books of Accounts and Audit

Section 147 of the companies Act Cap 486 states: (1) Every company shall cause to be kept in the English language proper books of account with respect to–  All sums of money received and expended the company and the Read More …

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The Accounting Records and the Companies Act

Introduction The chapter details the companies Act Cap 486 requirements on the keeping of accounting records and books incorporated companies. The accountant and the auditor must familiarize himself or herself with requirements before he/she carries out the audit work. Read More …

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Auditors’ Appointment and Remuneration

Section 159 of the companies Act Cap 486 states: (1) Every company shall at each annual general meeting appoint an auditor or auditors to hold office from the conclusion of that, until the conclusion of the next, annual general meeting. Read More …

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The Auditor and the Companies Act Cap 486

Introduction Statutory audits are carried out as guided the rules set out in the Companies Act Cap 486. The topic outlines the rules on the requirement for a company to follow. It outlines the rules on the auditor’s appointment, Read More …

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Disadvantages of an Auditor

 It is an expensive operation because audit fees and audit expenses are usually too high for small companies. If the report arising out of audit is bad, it can lead to the failure of the business (a qualified report).  An Read More …

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