ASSIGNMENT OF AUDIT AND

ASSURANCE
ARHAM BUTT

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Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.]
 ASSIGNMENT OF AUDIT AND ASSURANCE

 Cooper Warehouses (Pvt.) Limited has appointed Mr. Alex, CPA, as the first
auditor. Mr. Alex was a director in Wally Cones Limited which was the parent
of Wenny Fabrics Limited, which in turn was the parent of Cooper Warehouses
(Pvt.) Limited. Mr. Alex retired as the director 6 months ago.
ANSWER
Mr.Alex Cannot Become Auditor Because He Is An Already Remained As A Director Of Parent Company

 Kamran Spinning Mills Limited, whose one of the directors is ex-wife of a

partner of Umar & Company, Chartered Accountants. After seventy days of
incorporation, the directors of Rahman Limited (RL) decided to appoint Mr.
Shahid as the company’s statutory auditor. Mr. Shahid was employed by RL
before he started his own practice.
ANSWER
Mr. Shahid Cannot Become Auditor Because He Is An Already Remained As A Employ In Rahman
Limited Company

 The directors of Najam (Pvt.) Limited having paid-up capital of Rs. 4.5 million
have appointed Mr. Dawood to act as the external auditor of the company. Mr.
Dawood has been awarded a diploma in International Financial Reporting
Standards by the Institute of Chartered Accountants of Pakistan and has
completed the mandatory period of training from a leading firm of chartered
accountants.
ANSWER
Mr. Dawood Can Become Auditor.

 Apricot and Company, Chartered Accountants, have received an offer for

appointment as auditor of Banana Limited. Mr. Pumpkin who is a nominee
director of the Government on the Board of Directors of Banana Limited holds
25% shares in Water Melon Limited. The spouse of a partner also holds shares
in Water Melon Limited.
ANSWER
Mr. Shahid Cannot Become Auditor Because His spouse hold shares in the watermelon limited and he 25%
hold shares in banana limited.