i) The importance of the transaction and the amounts involved. Where the transaction involves a huge amount it may be appropriate to give your advice in writing for responsibility and future references required.
ii) The technical complexity involved
iii) Highly complex transactions demand continuous reference to the advice provided by the experts hence the need for this advice to be in writing
iv) Existence of authorities and procedures covering the nature of the transaction for which advice is sort
v) The need to seek other professional advice in which case such reference may be documented i.e. the objective
vi) The potential consequences in terms of penalties which are based on the advice rendered.
vii) Whether the transaction is subject to disclosure requirements which may require that any advice relating to the transaction to be documented.
Wilfykil answered the question on February 26, 2019 at 06:29
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Kamere Ltd. commenced manufacturing operations on 1 January 2003. The management of the company has prepared the following financial statement for the year ended 31 December 2005.
Balance sheet as at 31 December 2005
Additional information:
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2. The company has not claimed capital allowance since it commenced operations.
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Date posted: February 26, 2019. Answers (1)