Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ide/Show Time Remaining Part 1 of 21- Question 1 of 30 2 Points Ninjago (Pty) Ltd is a company selling toy building blocks. The

image text in transcribed

ide/Show Time Remaining Part 1 of 21- Question 1 of 30 2 Points Ninjago (Pty) Ltd is a company selling toy building blocks. The company was founded by its two sole shareholders, Lloyd and Kai Garmadon in 2015, and adopted a standard memorandum of incorporation (MOI). Lloyd and Kai are the only two directors of the company. For the year ended 29 February 2020, Ninjago (Pty) Ltd had a public interest score (PIS) of 85 and its annual financial statements were externally compiled. Consider the information above and determine whether Ninjago (Pty) Ltd will be required to have its annual financial statements audited or independently reviewed in terms of the Companies Act. Choose the correct option below A. Ninjago (Pty) Ltd must have its annual financial statements audited by an internal auditor. B. Ninjago (Pty) Ltd must have its annual financial statements independently reviewed. C. Ninjago (Pty) Ltd must have its annual financial statements audited by an external registered auditor.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

11th edition

978-1111528300, 1111528128, 1111528306, 978-1111528126

More Books

Students also viewed these Accounting questions