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AUE2602 Assignment 3 Due 26 September 2024
R70.00
0 Downloads
Started on Thursday, 26 September 2024, 1:52 PM
State Finished
Completed on Thursday, 26 September 2024, 2:35 PM
Time taken 43 mins 14 secs
Marks 29.00/30.00
Grade 99.38 out of 100.00
Question 1
Complete
Which one of the following alternatives correctly describes some of the duties of the audit committee in terms
of the Companies Act?
Mark 2.00 out
of 2.00
a. The audit committee should nominate for appointment the internal auditor of a company. The audit
committee should also determine the fees and terms of engagement for audit committee members.
b. The audit committee should determine the nature and extent of any non-audit services that the auditor
may provide and pre-approve any agreement with the auditor for the provision of these services.
c. The audit committee should prepare a report to be included in the financial statements which, inter alia,
describes how the auditor performed its functions and states whether the audit committee was
independent of the company.
d. The audit committee should ensure that the appointment of the company secretary complies with the
Companies Act and the Auditing Profession Act.
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