Summary
Summary AUE1601 QUIZ 4
- Institution
- University Of South Africa (Unisa)
Summary of 3 pages for the course AUE1601 - Legal Aspects In Accountancy at Unisa (AUE1601 QUIZ 4)
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1. How long after terminating the relationship with its auditor should a company file the notice of
termination? TOPIC 5
A) Within 10 business days
B) Within 15 business days
C) Within 21 business days
D) Within 30 business days
ANSWER: A
2. In terms of the Companies Act, who is responsible for ensuring that the appointment of the
auditor complies with provisions of the Act and other legislation? TOPIC 5
a) Executive directors
b) Human resources manager
c) Shareholders
d) Audit committee
ANSWER: D
3. With respect to the membership of an audit committee, which of the following is not a
requirement in terms of the Companies Act? TOPIC 5
a) Each member must be an executive director of the company
b) At least one third of the members of the audit committee have academic qualifications
or experience in economics, law, accounting, corporate governance
c) The committee should consist of at least three members
d) Shareholders must appoint the audit committee at each annual general meeting
ANSWER: A
4. Which of the following groups would be eligible to be a member of the audit committee of
a company? TOPIC 5
a) Material suppliers of the company
b) Material customers of the company
c) An individual who served as an executive director four financial years ago.
d) Individuals involved in the day-to-day running of the company
ANSWER: C
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