One of the responsibilities of the directors of a company is to establish strong internal controls to safeguard the assets of the firm. Required: Set out the audit procedures you would follow to verify directors‘ fees

Audit procedures to verify directors‘ fees.

i) A schedule should be obtained from the client showing the make up of the directors‘ remuneration;
ii) The amounts paid in respect of each individual should be verified by reference to the company‘s accounting records and the service agreements or a board minute in respect of management remuneration or to the articles of association or annual general meeting minute in respect of fees for services as directors.
iii) The auditor should confirm that all directors‘ emoluments have been disclosed in the financial statements as required by the companies Act and have been appropriately taxed

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