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ISA 250: CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS

Audit & Assurance / Shadrack Opoku Frimpong

This International Standard on Auditing (ISA) deals with the auditor’s responsibility to consider laws and regulations in an audit of financial statements. This ISA does not apply to other assurance engagements in which the auditor is specifically engaged to test and report separately on compliance with specific laws or regulations. The effect on financial statements […]

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CRITICAL SUCCESS FACTORS

Business Strategy / Shadrack Opoku Frimpong

Critical success factors (CSFs) Critical success factors are factors that are essential to the strategic success of a business entity. They have been defined as: ‘those components of strategy in which the organisation must excel to out-perform competition’ (Johnson and Scholes). Identifying and managing these factors is essential for achieving strategic goals and objectives. CSFs

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NON-CURRENT ASSET HELD FOR SALE AND DISCONTINUED OPERATION – IFRS 5

Accounting / Shadrack Opoku Frimpong

IFRS 5 Non-current Assets held for sale or for Discontinued Operations outlines how to account for noncurrent assets held for sale(or to distributed to owners), in general terms, assets (or disposal groups) held for sale are not depreciated, are measured at the lower of carrying amount and fair value less cost to sell, and are

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THE OECD PRINCIPLES OF CORPORATE GOVERNANCE

Business Strategy / Shadrack Opoku Frimpong

Introduction Corporate governance is the system by which companies are directed and controlled. The term ‘corporate governance’ means the governance of companies (corporate bodies). Similar issues arise for the governance of other entities, such as government bodies, state-owned entities and non-government organisations such as charities. Cadbury Report (1992). Corporate governance is one key element in

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IFRS 17: INSURANCE CONTRACTS

Accounting / Shadrack Opoku Frimpong

Objective IFRS 17 Insurance Contracts establishes the principles for the recognition, measurement, presentation and disclosure of Insurance contracts within the scope of the Standard. The objective of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts. This information gives a basis for users of financial statements to assess the effect

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ISA 505 – EXTERNAL CONFIRMATION

Audit & Assurance / Shadrack Opoku Frimpong

ISA 505 – EXTERNAL CONFIRMATION This International Standard on Auditing (ISA) deals with the auditor’s use of external confirmation procedures to obtain audit evidence in accordance with the requirements of ISA 500 (Audit Evidence). As auditors, verifying financial statements isn’t just about number-crunching; it’s about ensuring accuracy, reliability, and trust in the numbers that represent

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ISA 250: CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS

CRITICAL SUCCESS FACTORS

NON-CURRENT ASSET HELD FOR SALE AND DISCONTINUED OPERATION – IFRS 5

THE OECD PRINCIPLES OF CORPORATE GOVERNANCE

IFRS 17: INSURANCE CONTRACTS

ISA 505 – EXTERNAL CONFIRMATION

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