It has often been said that the auditors‟ report is the formal result of all his efforts. This being the case, it is very important that the reader well understands the meaning of the Audit Report, particularly where the auditor wishes to qualify his opinion on the financial statements. Required: […]

Moving averages are often used in an effort to identify movements in share prices. Approximate monthly closing prices (in Sh. per share) for Toys Children Ltd. for December 2000 through November 2001 are shown below: Month Price (Sh) December January February March April May June July August September October November […]

The cashier of a firm who also acts a bookkeeper has been suspected of dishonesty. The books have not been audited for the last nine months. You have been asked to investigate the records to establish whether the cashier has committed a fraud. Required: Outline how you would proceed with […]

You are an audit senior in a firm of practicing accountants and your manager has gone out for an urgent meeting with a partner. Mr. Charo, a manager with Charo and Company, a wholesale business has come to your office with a request that your firm becomes their auditors. Required: […]

Explain briefly some of the advantages of the standard normal distribution

Outline the additional elements of the services marketing mix using appropriate examples for each.

Grear Tyre Company has just developed a new steel-belted radial tyre that will be sold through a national chain of discount stores. Because the tyre is a new product, the company’s management believes that the mileage guarantee offered with the tyre will be an important factor in the consumer acceptance […]

The past records of Salama Industries indicate that about 4 out of 10 of the company’s orders are for export. Further, their records indicate that 48 per cent of all orders are for export in one particular financial quarter. They expect to satisfy about 80 orders in the next financial […]

Explain the following terms: (a) Materiality; (4 marks) (b) The duty of confidentiality; (5 marks) (c) Professional indemnity insurance; (3 marks) (d) Peer review; (3 marks) (e) Quality Control. (5 marks)