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 […]

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

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 […]

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

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 […]

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

Explain clearly the nature of a public good with specific reference to provision of education in UK today and the role taxes play under such circumstances.

Internal controls over non-current assets are designed to ensure the orderly and efficient running of the business, adherence to management policies, safeguarding of assets, the prevention […]

On 1 January 2003, Pesy Limited brought into full operation its Liru Factory of producing bottle tops. The following expenditure had been incurred up to that […]