Kwame nkrumah university of science and technology institute of distance learning

Download 88.39 Kb.
Size88.39 Kb.
1   2   3   4   5   6
auditing Assign
ACT 142. (1) An auditor of a company while acting in the performance of functions under this Act, is not an officer or agent of the company, but
(a) stands in a fiduciary relationship to the members of the company as a whole, and
(b) shall act in a manner that a faithful, diligent, careful, and ordinarily skilful auditor would act in the circumstances.
(2) A provision, whether contained in the constitution of a company, or in a contract, or in a resolution of a company, shall not relieve an auditor from
(a) the duty to act in accordance with subsection (1); or
(b) a liability incurred as a result of a breach of that duty.

ACT 142 (3) An auditor shall have a right of access at all times to the accounting records and financial statements and vouchers of the company and is entitled to require from the officers of the company the information and explanation that the auditor thinks necessary for the performance of the functions of the auditor.
(4) The auditor of a company is entitled to
(a) attend a general meeting of the company,
(b) receive the notices of, and other communications relating to, a general meeting, and
(c) be heard at a general meeting on any part of the business of the meeting which concerns the auditor.
(5) The auditor of a company may apply to the Court for directions in relation to a matter arising in connection with the performance of functions under this Act.
(6) On receipt of that application, the Court may give directions that the Court considers just and unless the Court otherwise directs, the costs of the application shall be paid by the company.
Download 88.39 Kb.

Share with your friends:
1   2   3   4   5   6

The database is protected by copyright © 2022
send message

    Main page