DUTIES OF AN AUDITOR

DUTIES OF AN AUDITOR

Section 360 (1) of CAMA 1990 showed that it shall be the duty of the company auditors in preparation of the report to carry out such investigations as may enable them to form an opinion as to the following matters.

1.     Proper books of accounts have been kept and proper returns adequate for the purpose of the audit have been received from branches not visited by the auditors.

2.     In the Auditor’s opinion, the balance sheet gives a true and fair view of the state of the company's affairs at the end of its financial year and whether the profit and loss accounts gives a true and fair view of the profit or loss for the financial year.

3.     The financial statement agrees with the accounting records and returns.

4.     The auditor has received' all the information and explanation necessary for the purposes of the audit.

5.     In the auditors opinion the balance sheet and profit and loss account comply with the provision CAMA 1990.

6.     To report on loans made to directors sec. 360 (4).

7.     To report on pension, compensation for loss of office and other payment to officers.