Audit planning process allows the audit senior to acquire adequate knowledge about the entity. This process ensure an effective control of audit work. Required: Explain the auditor‘s planning process when planning for an audit of a new Solution:
Month: December 2020
Strategy, Governance and Ethics Revision Kit Questions November 2020 Exams
QUESTION ONE MAMBA GROUP LIMITED (MGL) Headquartered in Mombasa Kenya, Mamba Group Limited (MGL) has been one of the largest manufacturers and marketers of food, home and personal care brands, and baproducts in Kenya for several decades. Founded in Read More …
Advanced Auditing and Assurance Revision Kit questions November 2020 exams
QUESTION ONE (a) (i) Some institutions have questioned why financial auditors do not detect more fraud. The truth, however, is that the processes of financial audits are different from those of fraud audits. Required: Explain four focus areas of fraud Read More …
Company Law Revision Kit Questions November 2020
QUESTION ONE (a) In relation to formation of companies: (i) Explain four common law duties of a promoter. (4 marks) (ii) Discuss three rules that govern pre-incorporation contracts. (6 marks) (b) Summarise five ways in which a company might alter Read More …
Business law, Commercial Law Revision kit Questions November 2020
QUESTION ONE (a) Generally, there is no implied condition as to fitness for any as purpose of the goods supplied. Outline four exceptions to the peel rule above. (8 marks) (b) Enumerate four duties of the seller under the cost, Read More …
Auditing and Assurance Revision Questions November 2020
QUESTION ONE (a) International Standard on Auditing (ISA) 505 — External confirmations, considers a number of different types of external confirmations including accounts receivable confirmations. Required: (i) Distinguish between a “positive confirmation” and a “negative confirmation”. (4 marks) (ii) Evaluate Read More …
Company Law Revision Kit Questions September 2015
QUESTION ONE (a) (i) Explain the meaning of the term “promoter” in the context of company law. (2 marks) (ii) Discuss three duties of a promoter of a company. (6 marks) (b) Outline the contents of a prospectus issued in Read More …
Company Law Revision Kit Questions November 2015
QUESTION ONE (a) With respect to corporate insolvency: (i) Highlight three ways in which a liquidator’s powers might be terminated. (6 marks) (ii) Explain four contents of the official receiver’s report. (4 marks) (b) Sometimes a corporate entity works like Read More …
Company Law Revision Kit Questions May 2016
QUESTION ONE (a) Describe five grounds upon which a person might be disqualified from acting as a company’s director. (10 marks) (b) Sea Bubble Limited was amalgamated with Telta Limited to form Seashore Limited. Some employees of Sea Bubble Limited Read More …
Company Law Revision Kit questions November 2016
QUESTION ONE (a) With reference to classification of companies, explain the meaning of a “holding company” in relation to another company. (4 marks) (b) A company cannot on its own execute contracts. Describe three mechanisms provided the Companies Act Read More …