Page 152 - DCOM509_ADVANCED_AUDITING

Dilfraz Singh, Lovely Professional University
Unit 9: Audit of Limited Companies

Unit 9: Audit of Limited Companies Notes

CONTENTS
Objectives
Introduction

9.1 The Company Audit
9.1.1 Appointment of Company Auditor
9.1.2 Difference between Partnership Audit and Company Audits

9.2 Commencement of Audit
9.2.1 Letter of Engagement
9.2.2 Preliminaries
9.2.3 Role of Company
9.3 Audit of Share Capital

9.3.1 Shares Issued for Cash
9.3.2 Shares Issued for Consideration other than Cash
9.3.3 Shares Issued at a Premium

9.3.4 Shares Issued at a Discount
9.4 Audit of Calls
9.4.1 Calls in Arrears
9.4.2 Calls in Advance
9.5 Issue and Redemption of Preference Shares

9.5.1 Redemption of Preference Shares
9.6 Issue of Bonus Shares
9.6.1 Alteration of Share Capital

9.6.2 Reduction of Share Capital
9.7 Issue of Share Certificates
9.7.1 Issue of Share Warrants
9.8 Share Transfer Audit
9.8.1 Transmission of Shares

9.9 Presentation and Disclosure of Share Capital
9.10 Summary
9.11 Keywords

9.12 Review Questions
9.13 Further Readings

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