How will you vouch/ verify for Transactions with the directors

Auditing and Assurance Revision Questions and Answers

Answer:
 It is the special item for review an auditor as it involves checking of compliance as well as poses high risk due to influence from top.
 Review relevant laws and regulations and ensure compliance with those provisions the company.
 Scrutinize the accounts related to directors’ expenses and ensure that the expenses claimed are reasonable and equitable.
 Enquired of transactions related to relative of the directors and system of documentation.
 Ensure that information with respect to directors are sent to relevant authorities as required.



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