The finance manager of Apr Construction Ltd. has two investment proposals before him and he wishes to choose one of them. He will choose the project that offers him a higher expected net present value (NPV). In case both projects have the same NPV, he will prefer the project that […]

Excel Audit Consultants (EAC) have engaged three audit trainees; O, K and M. After three months, the audit supervisor notices that 3%, 5% and 4% of the accountants audited by O, K and M respectively have some procedural errors. The supervisor had distributed the accounts such that O audited 40%. […]

(i) State the Baye’s theorem (2 mark) (ii) What is the importance of Baye’s theorem to a business manager? (8 marks)

Using the data from the hypothetical clinical situation that we present to you in this task, carry out your first Nursing Care Plan for this client. You will find the necessary materials and the table to develop the care plan in the Supplementary Materials section Model 2: Identify in order […]

What is the form of audit opinion you would give if you concluded that the client company was experiencing going concern problems and: i. you have established that the financial statements give sufficient disclosure of the going concern problems? ii. you have established that there is no disclosure of the […]

Explain five factors which would indicate to the auditor that the going concern assumption of the business entity he is auditing is threatened.

Leisure Publishers Ltd. recently published 20 romantic novels by 20 different authors. Sales ranged from just over 5,000 copies for one novel to about 24,000 copies for another novel. Before publishing, each novel had been assessed by a reader who had given it a rating between 1 and 10. The […]

Briefly explain the meaning of the following terms as used in auditing: i. The materiality concept. ii. The going concern concept.

(a) What is instalment tax and when is it payable? (b) Who is a ‘whole time service director’ as defined by Income Tax Act (cap 470)?