During the final stage of the first audit of Nairobi National Bank Ltd. You request the client to provide you with a letter of representation. The […]

UC Limited specializes in selling small electrical appliances. A considerable portion of the company’s sales is on instalment basis. Although most of the company’s customers make […]

Explain the way in which the auditor should approach and perform his work in order to meet these responsibilities.

(a) What is meant by the term „fraud‟? Give four examples of fraudulent activities. (6 marks) (b) What do you consider to be the auditor‟s responsibilities […]

Define the following terms: (i) Stochastic process: (2 marks) (ii) Transition matrix; (2 marks) (iii) Recurrent state; (2 marks) (iv) Steady state. (2 marks)

Restmount Kenya Ltd. was formed on 1 October 1997 in order to export tea and coffee to European markets. The Directors are unsure as to their […]

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, […]

The following plot shows the current account balance (as a percent of GDP) for the five BRICS economies (Brazil, Russia, India, China and South Africa) from […]

You are the audit manager in charge of Car Alarms Ltd. Whose financial year ended on 31 March 1993. Due to the tight schedule of your […]