AUE2601 Assignment 2A (COMPLETE ANSWERS) Semester 2 2024 - DUE 18 September 2024
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Course
Auditing Theory and Practice (AUE2601)
Institution
University Of South Africa (Unisa)
Book
Auditing Notes for South African Students
AUE2601 Assignment 2A (COMPLETE ANSWERS) Semester 2 2024 - DUE 18 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us..
Due Date: 18 September 2024
PART A: CALCULATING THE PUBLIC INTEREST SCORE AND NEED FOR AUDIT
1.1 Public Interest Score Calculation: The public interest score is calculated according to Section
28 of the Companies Act, 71 of 2008. For Ball Sport (Pty) Ltd, we need to consider the following
components to calculate the score:
• Number of shareholders: Each shareholder counts for 1 point. Ball Sport has 8
shareholders.
• Number of employees: 1 point is allocated for each employee. Ball Sport has 71
employees.
• Third-party liabilities: The total liabilities of the company are R6,388,000. For every R1
million of third-party liability, 1 point is added, so Ball Sport gets approximately 6.39 points
for liabilities.
• Turnover: Ball Sport has a turnover of R28,200,000. For every R1 million of turnover, 1 point
is added, so the company earns 28.2 points for turnover.
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