July 27, 2021

Expense accruals, Trade payables and purchase accruals

Company A has a number of long and short-term payables, accruals and provisions in its balance sheet. Required: Describe the audit procedures you would apply to […]
July 27, 2021

purpose of the internal controls

Flowers Anytime sells flowers wholesale. Customers telephone the company and their orders are taken by clerks who take details of the flowers to be delivered, the […]
July 27, 2021

deductions that may be available against gains or profits from employment

List and explain any three deductions that may be available against gains or profits from employment
July 27, 2021

Mr Ali Ming’s VAT calculations

i) Mr. Ali Ming is a hardware merchant. He purchases cement from Athi Cement Ltd. which he then sells to his customers. Both Ali Ming and […]
July 27, 2021

the rules governing the payment of VAT

What are the rules governing the payment of VAT? Specify the additional tax that may arise from failure to comply with those rules.
July 27, 2021

The objectivity of the external auditor under threat

The objectivity of the external auditor may be threatened or appear to be threatened where: (i) There is undue dependence on any audit client or group […]
July 27, 2021

direct and indirect tax

i) Distinguish between a direct and indirect tax. (ii) Is Value Added Tax (VAT) a direct or indirect tax? Explain
July 27, 2021

Audit sampling

Audit sampling is a technique for drawing conclusions about the characteristics of a population by testing a sample drawn there from. Internal and external auditors use […]
July 27, 2021

the principle of cost sharing

What is the principle of cost sharing and to what extent does it influence the level of taxation? Discuss
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