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- 4 Marks
Question
Auditors have various duties to perform in their role as auditors, for example, to express an opinion regarding the truth and fairness of the financial statements.
Required:
State FOUR (4) rights that enable auditors to carry out their duties.
Answer
Rights that enable auditors to carry out their duties:
- Right of access to the company’s books and records at any reasonable time to collect the evidence necessary for the audit.
- Right to require information and explanations from the company’s officers as deemed necessary to perform the audit.
- Right to receive notice of and attend any general meetings of the company.
- Right to speak at general meetings on any matters affecting the auditor or previous auditors.
(4 marks)
- Tags: Access to Information, Audit Process, Auditor's Rights, Corporate Governance
- Level: Level 2
- Topic: Regulatory Framework and Audit Responsibilities
- Series: DEC 2022
- Uploader: Theophilus