Company Secretary, Auditors – ACCA Corporate and Business Law (LW) (ENG)
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Thanks for this lecture Mike. When you mention that a partner cannot be his company’s auditor, is this the same as saying “a shareholder cannot be the auditor if the company” ? However you mention the director’s employer is allowed to be the auditor- could it happen that the director’s employer is a shareholder? Thanks for the clarification.
Apologies, I have now understood a partner is not the same as a shareholder. Therefore a shareholder is allowed to be the auditor. Please correct me if I’m wrong. Thank you
Haha! Qualitatititititatively… studying on a Sunday morning, this made my day XD
Thanks for a great lecture as always Mike (or whoever is looking after these pages nowadays – please pass thanks on).
Thanks Mike for your well explained lecture. I love the lecture on Auditors – rights and duties as an auditor.
Imagine me an auditor watching this section of your lecture lol
For our purposes the words ‘members’ and ‘shareholders’ are synonymous
Strictly speaking, this is technically incorrect but for the ACCA LW paper you can take it that these two words are interchangeable
Who are the directors? These are the people elected by the members / shareholders to run the company on behalf of the members / shareholders
These directors may or may not also be members / shareholders in their own right (and most commonly ARE) but it’s not automatically the case that directors are also members / shareholders
OK?
Are the members cited in this chapter the shareholders??? If yes, who are the directors?