Assignment Solution ACC311
(Fundamentals of Auditing) Fall 2019
Due Date: 29 November, 2019
According to Companies Act 2017 [Section 247], the person who is a partner or employee of a director, other officer or employee of the company cannot be appointed as auditor. So, the appointment of M/s Shafee & Co as external auditor is not legally permissible as Mr. Waseem – director of Barkat enterprises is also a partner of M/s Shafee & Co
According to Companies Act 2017 [Section 247], the public company having paid up capital of three million or more must hired the chartered accountant or chartered accountancy firms as external auditors. So, the appointment of Nabi Associates as external auditor is legally permissible as MTM (Pvt) have 3.2M paid up capital.
According to Companies Act 2017 [Section 247], the person who is a spouse of company’s director cannot be appointed as auditor. So, the appointment of Mr. Ahsan’s company as external auditor is not legally permissible as Mr. Ahsan is a spouse of company’s director i.e. Miss Sara.
As per Companies Act 2017 [Section 247], a persons who is Present directors, other officer or employees of the company or who held these offices during the last three years cannot be appointed as external auditor. So, Mr. Shahbaz cannot be appointed as external auditor as he holds the company office as an officer in preceding 2 years.
Mr. Zeeshan cannot be appointed as external auditor of Hussain Enterprises as he is still employee of the company which is against the conditions of Companies Act 2017 [Section 247] for appointment of auditors.
SOLVED EDU304 Assignment 1 Solution and Discussion
Introduction to Guidance and Counseling (EDU-304)
Assignment 1 (Fall 2019)
Total marks: 20
• Late assignments will not be accepted.
• If the file is corrupt or problematic, it will be marked zero.
• Plagiarism will never be tolerated. Plagiarism occurs when a student uses work done by someone else as if it was his or her own; however, taking the ideas from different sources and expressing them in your own words will be encouraged.
• No assignment will be accepted via e-mail.
• The solution file should be in Word document format; the font color should be preferably black and font size should be 12 Times New Roman.
• 1 mark will be deducted for the incorrect format
- Write definition of guidance and counseling? Enlist purposes of guidance and counseling in your own words. (4+4 = 8 Marks)
- Explain types of guidance and counseling also describe why the need of Guidance and Counseling arise in academic setting? (4+4+4= 12 Marks)