Day: January 7, 2022

The engagement should outline clear the client’s statutory duties and the auditor’s statutory and professional responsibilities and duties. The client’s statutory responsibilities include keeping proper books of accounts as stipulated by Companies Act Cap 486 section 147. The auditor’s statutory Read More …

Paragraph 2 of Kenyan Auditing Standard 1 states “The auditor should adequately plan, control and record his work”. The auditing guideline gives guidance on one of the procedures to be followed before commencement of audit. The purpose of an engagement Read More …

Introduction This topic attempts at explaining the procedure and require of engaging auditor. Before starting any professional engagement, it is important that the professional agree in writing, the precise scope and the nature of the work to be done. This Read More …

Insider dealing is illegal. It is also contrary to ethical rules. Individuals who during their course of work come across unpublished price sensitive data and information are prohibited to use such information for undue advantage. Auditors may have access to Read More …

The normal way or basis of charging for professional work is on the basis of the time spent on the client premises or work. It depends on the nature of the appointment. Those appointed by the Board of Directors, it Read More …

In the past, auditors and accountants were required to be anonymous in public matters. The rules are now less restrictive but there are still some prohibitions. A general prohibition is on any publicity which would bring the auditor, his professional Read More …