Audit on share capital/ director remunerations

True, if there is a change in share capital, the change is the one mostly audited. However the audit proceedure will be applying substantive testing (not control). (use PROVE mnumonic)
a)PRESENTATION. Balance sheet figure is correct and sufficient disclosure is made in notes by inspecting the Fin Statements (FS)
b) RECORDS.
Accounting records agree with the financial statements by inspection
c) OWNERSHIP.
Where complex mergers or business combinations have been made accounting records & FS are checked to ensure compliance with agreement terms and IFRS 3(BUSINESS COMBINATIONS)
d) VALUATION.
Where issues have occured checks are made to ensure that amounts have been correctly split by recomputing the amounts relevent for share premium & ordinary share account
e)Existence
Ensuring that the amounts represented as in issure are in issue for sure by enquiring at the Registra of Companies, Stork Exchange etc

For directors’ remuneration accuracy is key (in line with the IFRS) thus full substantive testing is conducted with no sampling as follows: (use AEIOU mnumonic)
a)Analytical Review
comparison of trends
e)enquiry
equire with the audit comittee to find out amounts paid to each director in the year under consideration
i) inspection
inspect that disclosure of remuneration for all directors’ have been made in the FS
o) observation
observe minutes of remuneration committee and al documentations with regard to directors pay.
u) Recomputation
recompute the directors’ remunerations especialy those based on performance to ensure accuracy