Professional Documents
Culture Documents
12/07/2020
28/07/2020
Directors’ remuneration
Ahmad Company’s board is comprised of eight directors. Their overall remuneration consists of two elements: an
annual salary, paid monthly; and a significant annual discretionary bonus, which is paid in a separate payment run on
20 June. All remuneration paid to directors are included within wages and salaries. Local legislation requires
disclosure of the overall total of directors’ remuneration broken down by element and by director.
You are required to write a report to your audit engagement partner in which you are required to cover the
following in respect of the inventory count procedures at Ahmad Company:
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6. Discuss substantive procedures the auditor should perform to obtain sufficient and appropriate audit evidence
in relation to Ahmad Company’s year-end bank balances.
7. Discuss substantive procedures would perform to confirm the directors’ remuneration included in the financial
statements.
For Operational Guidelines refer to Student Handbook Section IV: ASSESSMENTS.
Deliverables
Submission
Submission of the report will be done via Turnitin Link on MOVE.
At the time of submission, you need to make sure that the assignment is your own and all the sources have been acknowledged.
During the scheduled sessions, guidance and explanation will be given regarding various issues related to audit of inventory,
the related controls, test of controls, substantive procedures for obtaining evidences for various financial statement assertions
specially for trade payable, accruals, bank balances and directors remuneration.
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How will my assignment be marked?
Your assignment be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and estimate your grade before you submit.
Sub
N Weighin Standard / No Poor Satisfactory Good Very Good Ex
Criterion Attempt
o g (%) (20 Marks) (40 Marks) (50 Marks) (60 Marks) (70
(0 Marks)
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