Get premium membership and access questions with answers, video lessons as well as revision papers.
-Acquaint himself with his duties under the Companies Act and the articles of the company whose books and accounts he is called upon to examine.
- Examine the books, accounts, vouchers and other documents of the company
- Make a report for submission to members in general meeting.
- Act honestly i.e. not certify as true what he does believe to be true.
- Exercise reasonable care, skill and caution of a competent careful and cautious auditor.
- Satisfy himself that the companies security exist and are in safe custody.
- Provide professional advise if called upon to do so.
- Approach his task with an inquiring mind and not with suspicion of dishonesty
marto answered the question on February 5, 2019 at 11:56
- Highlight the requirements to be met before a notice of meeting served on members can be held to be valid.(Solved)
Highlight the requirements to be met before a notice of meeting served on members can be held to be valid.
Date posted: February 5, 2019. Answers (1)
- The rule in Foss v Harbottle establishes the principle that where a wrong is done to the company, the proper plaintiff is the company itself....(Solved)
The rule in Foss v Harbottle establishes the principle that where a wrong is done to the company, the proper plaintiff is the company itself. However, where the wrong is done by the company directors, it may be impossible for the company to sue. In such a case, a derivate action may be the only option.
a) Explain what is meant by “derivative action”.
b) Describe the conditions that must be satisfied before a derivative suit can be instituted
Date posted: February 5, 2019. Answers (1)
- Define the term "prospectus" and explain the circumstances under which a company may issue a prospectus(Solved)
Define the term "prospectus" and explain the circumstances under which a company may issue a prospectus.
Date posted: February 5, 2019. Answers (1)
- Explain the Statutory and Common Law Rules that govern raising and maintenance of share capital of a company. (Solved)
Explain the Statutory and Common Law Rules that govern raising and maintenance of share capital of a company.
Date posted: February 5, 2019. Answers (1)
- Wafula, one of the Directors of Hopeful Co. Ltd is unsure of his duty of care and skill as a director of the company....(Solved)
Wafula, one of the Directors of Hopeful Co. Ltd is unsure of his duty of care and skill as a director of the company. He seeks your advice on this. Advise him.
Date posted: February 5, 2019. Answers (1)
- Hopeful, a private limited company has adopted Table A as its Articles of Association. The company now, wishes to alter the Articles of Association.
...(Solved)
Hopeful, a private limited company has adopted Table A as its Articles of Association. The company now, wishes to alter the Articles of Association.
Outline the procedure to be followed to effect the change.
Date posted: February 5, 2019. Answers (1)
- In relation to company law describe the common law duties of a Promoter.(Solved)
In relation to company law describe the common law duties of a Promoter.
Date posted: February 5, 2019. Answers (1)
- In relation to company law,discuss the rules that govern pre-incorporation contracts. (Solved)
In relation to company law,discuss the rules that govern pre-incorporation contracts.
Date posted: February 5, 2019. Answers (1)
- In relation to company law:
a) Explain the meaning of the term “Promoter”. (Solved)
In relation to company law:
a) Explain the meaning of the term “Promoter”.
Date posted: February 5, 2019. Answers (1)