One of the responsibilities of the directors of a company is to establish strong internal
controls to safeguard the assets of the firm.
Required:
a) State the audit objectives of internal controls on fixed assets. (6
marks)
b) Set out the audit procedures you would follow to verify directors‟ fees. (7
marks)
c) What procedures would you apply to verify the extension of a building that has
been constructed by the client during the year?
(7 marks)