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MOA, AOA and Their Alteration – Exam Notes
Lesson 3: Memorandum of Association (MOA), Articles of Association (AOA) and Their Alteration – Exam Notes 1. Memorandum of Association (MOA) Meaning Importance 2. Contents of MOA [Section 4] (A) Name Clause Contains the name of the company. Rules Restrictions Name should not: (B) Situation Clause (Registered Office Clause) States the State in which the…
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Risk Assessment and Internal Control – Short Notes
Risk Assessment and Internal Control – Short Notes 1. Risk Assessment Procedures (SA 315) Meaning Risk Assessment Procedures are audit procedures performed to understand the entity and identify risks of material misstatement due to fraud or error. Objectives Components of Risk Assessment Procedures (a) Inquiry Information obtained from: (b) Analytical Procedures Analysis of: Example: Current…
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Notes: Legal Status and Types of Registered Companies
Notes: Legal Status and Types of Registered Companies 1. Corporate Personality (Separate Legal Entity) Important Cases Salomon v. Salomon & Co. Ltd. (1897) Lee v. Lee’s Air Farming Ltd. (1961) Re Kondoli Tea Co. Ltd. (1886) 2. Company as an Artificial Person Case Union Bank of India v. Khader International Construction (2001) 3. Perpetual Succession…
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