ACTIVITY 1

FROM THE LIST PROVIDED MATCH THE CORRECT TERM WITH THE
STATEMENT.
Articles of association, Memorandum of association, SAICA, Prospectus,
PAAB, Unlimited liability, limited liability, Shareholders, Directors
1.1

A document that is used to invite the public to

buy shares in a company.
ANSWER ________________________
1.2

A body that chartered accountants are

registered with.
ANSWER ________________________
1.3

Owners that provide the capital to run the

company.
ANSWER ________________________
1.4

A document that governs the internal affairs

and management of a company.
ANSWER ________________________
1.5

In the event of insolvency, members will lose.

The capital they have invested in the
Company
ANSWER _______________________

ACTIVITY 2
FILL IN THE MISSING WORDS

2.1 The _______ auditor expresses an

opinion on the audited financial statements
based on _______.
2.2 When the audited financial
statements are free of errors, the auditor
will issue a _______ report.
2.3 Internal auditors are employed by the
________ of the company.
2.4 Limited liability companys must abide
by the Companys Act _________
2.5 Shareholders will receive a
___________ as proof of ownership of
Shares.

ACTIVITY 3
South Africa recognized the need to prepare their financial statements in line with
international standards. What is this international standard called and explain why it
was necessary for South Africa to bring about this alignment in financial reporting
with the rest of the world.
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________

ALL THE BEST!!!