Arise limited is registered with Companies House. The Company is currently funding its operations through the parent company over the past 4 years. The newly appointed chairman of the Board of Directors has highlighted the need to organise the company strategically to attract more investors. Mr Brown, the recently appointed Managing Director of the company, has recommended to the Board the appointment of an accountant to deal with putting a proper internal control structure in place and the appointment of an external auditor. The newly appointed Managing Director is not an accountant and has requested for your advice on the need for having an adequate internal control system in the company. Required: In relation to internal control system, highlight the responsibilities of: i. Management ii. Board of Directors iii. External auditor
Arise limited is registered with Companies House. The Company is currently funding
its operations through the parent company over the past 4 years. The newly appointed
chairman of the Board of Directors has highlighted the need to organise the company
strategically to attract more investors. Mr Brown, the recently appointed Managing
Director of the company, has recommended to the Board the appointment of an
accountant to deal with putting a proper internal control structure in place and the
appointment of an external auditor.
The newly appointed Managing Director is not an accountant and has requested for
your advice on the need for having an adequate internal
company.
Required:
In relation to internal control system, highlight the responsibilities of:
i. Management
ii. Board of Directors
iii. External auditor
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