You have successfully completed your undergraduate degree and have taken a part-time position as a tutor in the Faculty of Commerce. You are asked to tutor corporate governance students, and you are pleased that you are able to apply and impart the knowledge you acquired in LAES5111 Q.3.1 In a discussion about shareholders, your student’s ask how they would know that a share certificate is ‘genuine’, meets the statutory requirements. Briefly discuss what must be stated on the face of a securities certificate. Your students inform you that they have learnt in recent lectures that the requirements for audits and auditors are specifically contained under the heading titled ‘enhanced accountability and transparency’, Chapter 3 of the Companies Act. Q.3.2.1 As an accounting graduate, your students ask about the benefits of a company having an audit committee and the ways in which this committee contributes to better company governance. In your answer discuss the duties of this committee taking into account: • Their specific duties relating to the contents of the annual financial statements; and • The duties in terms of s94(7) of the Companies Act Q.3.2.2 You initiate a discussion with your class on how the rotation of auditors contributes to enhanced accountability. After the discussion, you assist the students in compiling a summary. Write a brief summary on the concept of “rotation of auditors” with reference to the relevant provision of the Companies Act.
You have successfully completed your undergraduate degree and have taken a part-time position
as a tutor in the Faculty of Commerce. You are asked to tutor corporate governance students, and
you are pleased that you are able to apply and impart the knowledge you acquired in LAES5111
Q.3.1 In a discussion about shareholders, your student’s ask how they would know that
a share certificate is ‘genuine’, meets the statutory requirements. Briefly discuss
what must be stated on the face of a securities certificate.
Your students inform you that they have learnt in recent lectures that the
requirements for audits and auditors are specifically contained under the
heading titled ‘enhanced accountability and transparency’, Chapter 3 of the
Companies Act.
Q.3.2.1 As an accounting graduate, your students ask about the benefits of a
company having an audit committee and the ways in which this
committee contributes to better company governance.
In your answer discuss the duties of this committee taking into
account:
• Their specific duties relating to the contents of the annual
financial statements; and
• The duties in terms of s94(7) of the Companies Act
Q.3.2.2 You initiate a discussion with your class on how the rotation of
auditors contributes to enhanced accountability. After the
discussion, you assist the students in compiling a summary.
Write a brief summary on the concept of “rotation of auditors” with
reference to the relevant provision of the Companies Act.
Step by step
Solved in 5 steps
