- An audit protects the interests of the shareholders who are separated from the management of the company. This is especially the case for minority shareholders who have little say in the management of their company.
- An audit being an independent examination of the financial statements gives credibility to the financial statements. The various users can therefore place reliance on them;
-The audit ensures that the directors have fulfilled their statutory obligations and acts as a precaution against frauds on the part of employees.
-The auditors experience will enable him to make recommendations on ways of improving the accounting, internal control system and in the standards of the company?s reporting to its members.
- An audit ensures that the financial statements are prepared in accordance with the generally accepted accounting standards. This improves the comparability of the financial statements.
johnson mwenjera answered the question on March 22, 2018 at 17:09
- What is an audit? ...(Solved)
What is an audit?
Date posted: March 22, 2018. Answers (1)
- Kenya's economy largely depends on agricultural produce.Due to the current global climate change which has affected the agricultural sector, outline and explain the steps which...(Solved)
Kenya's economy largely depends on agricultural produce.Due to the current global climate change which has affected the agricultural sector, outline and explain the steps which Kenyan government should take in order foster the growth of the sector.
Date posted: March 21, 2018. Answers (1)
- State reasons why it is undesirable for kenya to over-rely on imported goods and services (Solved)
Reasons why it undesirable to over-rely on imported goods and services
Date posted: March 21, 2018. Answers (1)
- List eight ways of motivating your employees(Solved)
List eight ways of motivating your employees.
Date posted: March 21, 2018. Answers (1)
- Factor to consider when choosing a method of financing a business
(Solved)
Factors put in consideration when choosing methods of financing a business
Date posted: March 21, 2018. Answers (1)
- What is Profit?(Solved)
Profit and loss
Date posted: March 20, 2018. Answers (1)
- Define the term Demand Forecasting(Solved)
Define the term Demand Forecasting.
Date posted: March 20, 2018. Answers (1)
- What are the characteristics of the service industry?(Solved)
What are the characteristics of the service industry?
Date posted: March 20, 2018. Answers (1)
- What are the current emerging issues in the business environment?(Solved)
What are the current emerging issues in the business environment?
Date posted: March 18, 2018. Answers (1)
- Outline FOUR resources of production with their corresponding rewards (Solved)
Outline FOUR resources of production with their corresponding rewards
Date posted: March 18, 2018. Answers (1)
- Explain the factors that an entrepreneur may consider when evaluating a business opportunity(Solved)
Explain the environmental factors that an entrepreneur may consider when evaluating a business opportunity
Date posted: March 18, 2018. Answers (1)
- How can we improve domestic tourism and what will be the benefit?(Solved)
How can we improve domestic tourism and what will be the benefit?
Date posted: March 17, 2018. Answers (1)
- White eagles hotel is a five star hotel located about five kilometers from Kakamega CBD. List four reasons why such hotel is located some distance from the CBD(Solved)
White eagles hotel is a five star hotel located about five kilometers from Kakamega CBD. List four reasons why such hotel is located some distance from the CBD.
Date posted: March 16, 2018. Answers (1)
- Explain the reason that make it necessary for the government to regulate the location of ...(Solved)
Explain the reason that make it necessary for the government to regulate the location of industries in the country.
Date posted: March 13, 2018. Answers (1)
- Give ways of managing cultural factors inhibiting development of entrepreneurial culture in Kenya(Solved)
Give ways of managing cultural factors inhibiting development of entrepreneurial culture in Kenya.
Date posted: March 12, 2018. Answers (1)
- Outline the steps to take when a customer complains of poor service, wrong ingredients or food borne disease incidences at your business establishment (Solved)
Outline the steps to take when a customer complains of poor service, wrong ingredients or food borne disease incidences at your business establishment.
Date posted: March 11, 2018. Answers (1)
- Services of retailers to wholesalers(Solved)
Services of retailers to wholesalers
Date posted: March 10, 2018. Answers (1)
- Measures undertaken to lower level of imports(Solved)
Measures undertaken to lower level of imports
Date posted: March 10, 2018. Answers (1)
- Factors government should consider before borrowing (Solved)
Factors government should consider before borrowing
Date posted: March 10, 2018. Answers (1)
- Factors encouraging localization(Solved)
Factors encouraging localization
Date posted: March 10, 2018. Answers (1)