Emali Co. Ltd. has undergone a period of substantial growth following its establishment five years ago. At the last annual general meeting Smith & Co. Associates, a tow-partner firm ofCertified Public Accountants were re-appointed as auditors. However, Smith & Co. Associates have decided that they do not have the necessary resources to audit the enlarge company.Required: How any a casual vacancy arising from the resignation of present auditors be filled and what procedures are necessary before the company‘s next annual general meeting at which the appointment will be presented for ratification? – Business and Technical Learning Resources

Section 159 (6) Casual vacancies

The companies Act provides that the directors may fill any casual vacancy in the office of the auditor, but while any such vacancy continues the surviving or continuining auditor or auditors, if any, may act. A casual vacancy could arise as a result of:

i) death
ii) incapacitation or
iii) resignation

Basing on this provision the directors can fill the vacancy created by the resignation of Smith & Co. however; the shareholders of the company still have a right to remove the auditor so appointed during the AGM.

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Emali Co. Ltd. has undergone a period of substantial growth following its establishment five years ago. At the last annual general meeting Smith & Co. Associates, tow-partner firms of Certified Public Accountants were re-appointed as auditors. However, Smith & Co. Associates have decided that they do not have the necessary resources to audit the enlarge company. Required: Briefly, explain how Smith & Co. Associates may resign from its appointment before the next annual general meting
Co-operative Accounting November 2019 Past Paper - KNEC Diploma
Co-operative Banking - November 2019 Past Paper KNEC Diploma
Describe the various ways in which co-ownership of property may be terminated
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Explain the value derived from the work of external auditors
Explain the challenges that auditors face in the process of being independent
Explain the meaning of the term “Co-ownership” and state the ways in which co- ownership may be terminated
Outline the statutory provisions with regard to duties of external auditors
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List the principal matters, which the auditors considers in forming an opinion on the financial statements
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Co-operative Accounting November 2010 Past Paper - KNEC Diploma
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Many auditors now use laptops computers to perform various audit tasks. However, if audit firms use laptop computers they risk data being corrupted and appropriate controls must therefore be put in place to prevent the corruption of data; describe the controls that auditors should implement when using laptop computers on audits
Many auditors now use laptops computers to perform various audit tasks. However, if audit firms use laptop computers they risk data being corrupted and appropriate controls must therefore be put in place to prevent the corruption of data; Briefly describe two types of software that might be used by auditors in their work other than Computer Assisted Audit techniques
Many auditors now use laptops computers to perform various audit tasks. However, if audit firms use laptop computers they risk data being corrupted and appropriate controls must therefore be put in place to prevent the corruption of data;Explain six ways which auditors can use laptop computers in their audit work (other than computer-assisted audit techniques)
John Mutiso bought shares of Sh.2 million six months ago in Kenya Company Limited which has since gone into liquidation. He intends to sue XYZ & Co. Certified Public Accountants for the imminent loss of Sh. 2 million which he is likely to suffer. XYZ & Co. had audited the Kenya Company Ltd. The previous year and issued an unqualified report. John Mutiso claims that he solely relied on the audit report when he took that investment decision.Required:What circumstances must Mr. John Mutiso demonstrate if he has to succeed against the auditors?
Inventive Mind Co. Ltd. has developed a new drug to be used in the treatment of common cold. The directors wish to register the trademark for their new product. Outline the items which must be contained in the application form for registration in order for the trademark to be registered
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;Explain to Mr. Charo the qualification and disqualification of an accounting firm under the provisions of the Companies Act to become auditors

Section 159 (6) Casual vacancies

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