Question
Question 4 Lily graduated from University of Birmingham in Bachelor of Accounting and Finance in 2013 and worked as an account manager in Axe Co.
Question 4
Lily graduated from University of Birmingham in Bachelor of Accounting and Finance in 2013 and worked as an account manager in Axe Co. After a few years of working, Lily bought significant number of shares in the company and become one of the shareholders. In October 2018, Lily resigned from her position and a month later, she joined Law & Associates, an external auditor of Axe Co. Upon her appointment, Lily was assigned to lead the financial statement audit of Axe Co. for the year ended 31 December 2018.
Required:
- Determine the importance on the establishment of MIA By-Laws (On Professional Ethics, Conduct and Practice).
(2 Marks)
- According to the MIA By-Laws (On Professional Ethics, Conduct and Practice), explain whether Lilys task lead the audit of Axe Co. violated or not violated the MIA By-Laws.
(4 Marks)
- With reference to the MIA By-Laws (On professional Ethics, Practice), explain any TWO (2) fundamental principles that auditor must comply.
(4 Marks)
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The Productivity Audit
Authors: Mark Spelman, Paul Spence
1st Edition
1907766073, 978-1907766077
