State the evidence, which you, as the auditor, would like to find in place and pay attention to when vouching the following payments made by RR Paper Mills Ltd., during the financial year ended 31 October 2002. The last call on 5, 000 ordinary shares at Sh, 15 per share

  • Last call on 5,000 ordinary shares at sh.15 per share.
  • Verify that the call has been made in accordance with the terms of the issue.
  •  Inspect paid cheques for cash paid on the last call.
  • Inspect any cancelled share certificates for which the company never honoured the last call.
  •  Verify that proper authority was obtained to make the payment

Share through

Leave a Reply

Your email address will not be published. Required fields are marked *