Mrl2601 exam pack 2022/2023//2024 mrl2601
Who may bring a statutory derivative action ito S165 CA - CORRECT ANSW-a shareholder a director a registered trade union representing an employee or a person/body representing employees anyone who is granted leave by the court to do so prescribed officers
Grounds for the application of statutory derivative action - CORRECT ANSW--cpy failed to take steps required -cpy appointed a person/committee who is not independent. -cpy accepted an inadequate report -cpy served a refusal notice
Duties of the audit committee - CORRECT ANSW-nominate and appoint a registered/independent auditor -determine fees to be paid to auditor and auditor's terms of engagement. -pre-approve any proposed agreement with the auditor to provide non-audit services -consider whether/not auditors independence may have been prejudiced. -prepare a report to be incl in annual financial statements
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