• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

New! Lectures for ACCA AAA September 2022 Exams are now available >>

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

Written Representation Lecture

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Written Representation Lecture

  • This topic has 1 reply, 2 voices, and was last updated 5 months ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • January 24, 2022 at 8:39 pm #647392
    Mcginz
    • Topics: 3
    • Replies: 2
    • ☆

    Please can you explain what you meant when you said “loans to directors outside of the rules of companies law”

    January 25, 2022 at 7:35 am #647408
    Kim Smith
    Keymaster
    • Topics: 88
    • Replies: 6096
    • ☆☆☆☆☆

    Welcome to my forum! It’s my predecessor’s lecture so I don’t know exactly what it is he says. I would take it to be a reference to the fact that regardless of whether such loans are permitted in law, there may be requirement for their disclosure in the notes. The monetary amounts of these loans may be immaterial – but the requirement for their disclosure makes them material by nature. The auditor would ask management to represent that all loans to directors (and indeed any transactions with directors) have been:
    – appropriately accounted for (i.e. disclosed in the notes to the financial statements); and
    – disclosed to the auditor (i.e. an aspect of completeness of information provided).

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • ben920331 on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • John Moffat on The Statement of Financial Position and Income Statement (part d)
  • Viktoriia.Yanchuk on The Statement of Financial Position and Income Statement (part d)
  • John Moffat on The management of receivables – Simple settlement discount – ACCA Financial Management (FM)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy