List the principal matters, which the auditors considers in forming an opinion on the financial statements

When forming an opinion, the auditors should consider whether:

Proper returns adequate for their audit have been received from branches not visited by them (where applicable)

  • The company‘s balance sheet and its profit and loss account are in agreement with the accounting records and returns.
  •  Such information and explanations as auditors think necessary for the performance of their duties have been received from the company‘s officers.
  •  The directors‘ report is consistent with the financial statements.
  •  The financial statement comply with the requirements of the company‘s Act
  • The financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS)



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