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7 views6 pages

F8 Per

Uploaded by

Linh Le Nguyen Hong
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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1

Chap 2: AUDIT LAW AND REGULATION


I. STATORY REGULATION

1. Appointment, removal and resignation of auditor

Appointment

Auditor appointment
Director - Before company’s first period for appointing auditors
- Following a period during which the company did not have an
auditor (as exempt), at any time before the next period for
appointing auditors;
- To fill a casual vacancy.

Member Can appoint auditor by ordinary resolution:

- During a period for appointing auditors;


- If company should have appointed auditor during a period for
appointing auditors but failed to do so;
- If directors fail to do so.

Secretary Nếu 2 case above đều k làm được

Removal

- Auditor phải có time nhất định (k được dài quá) để có thể confidential và k có
familarity
- Có thể bị removed nếu nghi ngờ khả năng continuing carry out k đc effectively

Auditor removal
Auditor Viết một representation đủ dài gửi tới company nếu:
action
- Đang làm cái cho nghỉ (term chưa expires)
- Term vừa end thì có đứa khác lên thay
3

Company - Noti tới mem of meeting of the presentations


action
- Send copy of presentations of in the notice, nếu k sent thì
đích thân KTV yêu cầu phải đọc bản đó trước meeting

GM Nếu bị remove trc khi expiry thì có thể:


- Attend GM mà term kết thúc
- Attend GM mà bổ nhiệm con KTV mới
Bị remove ngay GM thì làm statement of circumstances for mem
and creditors

Resignation

- Nếu find difficult to work 2gether


- If an auditor resigns or is removed from office before the end of their term of
office, they must notify the ACCA.

Auditor removal
Auditor issues written notice of the resignation and a statement of
action
circumstances (quoted company) to the members and regulatory
authority

Company - send notice of the resignation to the Registrar.;


action
- send a copy of the statement of circumstances to every
person entitled to receive a copy of the accounts.

GM If the auditors have deposited a statement of circumstances, they


may:
- Circulate a statement of reasonable length to the members;
- Requisition a GM to explain their reasons;
- Attend and speak at any meeting where appointment of
successors is to be discussed.
4

2. Duties and rights of auditor

Duties

Duties Explanation
Compliances with legislration Fs prepared theo relevant legislation chưa?
Truth and fairness of the Fs Có show true and view of the company’s
affairs?
Adequate accounting records Liệu có ghi đầy đủ chính xác không, tại có
and returns mấy branch thì KTV đâu có tới kiểm được á
Agreement of account to records Account có khớp với accounting record vs
return không?
Consistency of other information Thông tin từ BOD report có consistent vs Fs
không?
Director’s benefits Liệu discolose lương con đó có theo luật
không?

Rights
5

CHAPTER 3: CORPORATE GOVERNANCE


I. OBJECTIVE OF CG

Corporate governance is the means by which a company is operated and


controlled
Objectives of CG:
- Ensure that companies are run well (in the interest of stakeholders)
- Try and prevent BOD from abusing their power

Benefits:
- Greater transparency
- Greater accountability
- Effciency of operations
- Better able to risk respond
- Less likely to be mismanaged
II. CG CODE
1. OECD

Ban hành 6 nguyên tắc cho CG:


- Ensuring the basis of an effective corporate governance framework
- The rights and equitable treatment of shareholders and key ownership
functions
- Institutional investors, stock markets, and other intermediaries
- The role of stakeholders in corporate governance
- Disclosure and transparency
- The responsibilities of the board.
2. UK

Tham chiếu từ OECD


6

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