Month: January 2022

The auditor has a lot of interest in the client’s accounting systems due to: The auditor should ascertain the enterprise’s system of recording and processing transactions and asses its adequacy as a basis for the preparation of financial statements The Read More …

This form of letter is generally appropriate for client companies. It is not intended to be used in relation to every enterprise, as it must be tailored to specific circumstances. To the directors of XYZ ltd The purpose of this Read More …

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 Individuals who during their course of work come across unpublished price sensitive data and information are prohibited to use such information for undue advantage.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 …