100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AUE2601 ASSIGNMENT 2 SEMESTER 2 2023 GROUP A SOLUTIONS R60,00   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. Auditing Theory and Practice

Exam (elaborations)

AUE2601 ASSIGNMENT 2 SEMESTER 2 2023 GROUP A SOLUTIONS

 38 views  0 purchase

AUE2601 ASSIGNMENT 2 SEMESTER 2 2023 GROUP A SOLUTIONS. DISTINCTION GUARANTEED. QUALITY MATERIAL PLAGIARISM FREE

Preview 2 out of 6  pages

Document information

  • September 13, 2023
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • aue2601 assignment 2 semester 2 2023 group a

Written for

All documents for this subject (43)

Seller

avatar-seller
wePASS

Reviews received

Content preview

WePass tutorials
AUE2601 Assignment 2 Semester 2 2023

Group A

, Question 1



1.1 The appointment of FGN as auditors of EL may not comply with Section 91 of the Companies Act
based on the provided information. Section 91 of the Companies Act typically requires that the
appointment of auditors be approved by the shareholders of the company at an annual general meeting
(AGM). However, in this case, it is mentioned that the financial director appointed FGN as auditors
without discussing it with the rest of the EL board members. To comply with Section 91, the following
procedures should have been followed:



a) The financial director should have proposed the appointment of FGN as auditors at an AGM or a
special general meeting.

b) Shareholders should have been given notice of this proposal and had the opportunity to vote on the
appointment.

c) A majority vote by the shareholders should have been obtained to officially appoint FGN as the
auditors.



1.2 EL needs to have its financial statements audited for several reasons:



a) Regulatory Compliance: Audited financial statements are often a legal requirement, especially for
publicly listed companies like EL. Compliance with regulatory bodies, such as the Johannesburg Stock
Exchange (JSE), may necessitate annual audits.



b) Shareholder Confidence: Audited financial statements provide assurance to shareholders and
potential investors about the accuracy and reliability of the company's financial information. This
enhances trust and confidence in the company.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller wePASS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R60,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82215 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R60,00
  • (0)
  Buy now