Question

What are the relevant legislations and standards that govern auditors in Fiji and -----which organization regulates...

What are the relevant legislations and standards that govern auditors in Fiji and -----which organization regulates the auditing profession and enforces the legislations as outlined in the first part of the question?

Homework Answers

Answer #1

The accountancy profession in Fiji is self-regulated by the Fiji Institute of Accountants (FIA). Established under the Fiji Institute of Accountants Act of 1971 (FIA Act), the FIA’s responsibilities are set out in the act and include maintaining a registry of all professional accountants.

There are no independent audit oversight arrangements in Fiji. The Fiji Institute of Accountants Act of 1971 (FIA Act) authorizes the Fiji Institute of Accountants (FIA) to regulate the audit profession. Audits in Fiji can only be conducted by Chartered Accountants (CAs) who hold a Certificate of Public Practice (CPP). CAs who hold a CPP are required to be members of the FIA and in addition, are required to be registered with the Ministry of Justice.

Source: https://www.ifac.org/about-ifac/membership/country/fiji

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Distinguished between generally accepted auditing standards (GAAS) and generally accepted accounting principle. (GAAP). What professional organization...
Distinguished between generally accepted auditing standards (GAAS) and generally accepted accounting principle. (GAAP). What professional organization establishes GAAS? What professional organization establishes GAAP?
Akash in a senior audit manager of an audit firm based in Nadi. As Christmas is...
Akash in a senior audit manager of an audit firm based in Nadi. As Christmas is approaching he wants to go on leave and he is finalizing his audits for the year ended 30 June 2017. While he was working he came across these material and independent scenarios: 1) Wishbone Ltd, uses the last-in first-out inventory valuation method for its closing inventory, which is one of the most significant items found in its statement of financial position. The difference between...
What is your opinion about the going concern according to the report? Auditors' Report to the...
What is your opinion about the going concern according to the report? Auditors' Report to the sharehoders Scope of aduit: We have aduited the accompanying consolidated balance sheet of x industries corporation and its subsudaries (the "Group") as at 31 December 2016 and the related consoildated statments of income, cash flows and shareholders' equity forr the Group's management and have been prepared by them in accordance with the requirememtns of the regulations for companies and submitted to us together with...
QUESTION 22 Which of the following cannot be external to the organization? weakness threat opportunity All...
QUESTION 22 Which of the following cannot be external to the organization? weakness threat opportunity All of the above can be external. 1 points    QUESTION 23 Which of the following cannot be internal to the organization? strength weakness opportunity All of the above can be internal. 1 points    QUESTION 24 Which of the following is a valid reason why a firm might pursue a flexible strategy? Flexibility is necessary to pursue first mover advantages. Organizational resources change. Performance...
1) Employees in a large multinational organization frequently travel among various geographic locations. Which type of...
1) Employees in a large multinational organization frequently travel among various geographic locations. Which type of authorization policy BEST addresses this practice? A. Multilevel B. Identity C. Role-based D. Discretionary Correct Answer: B ------------------------------------------------- 2) Which of the following is the BEST type of access control for an organization with employees who move between departments? A. Mandatory B. Role-based C. Identity D. Discretionary Correct Answer: C ______________________ Note ■ Excuse me if I ask you 2 questions but, as you...
Hi. I want to get feedback on this question. What should i add or remove or...
Hi. I want to get feedback on this question. What should i add or remove or any correction. Boulded written is question and regulat writing is answer. Please guide. Thank you. BACKGROUND Apply audit risk and materiality concepts to address the following circumstances regarding Able & Baker LLP’s audits of the financial statements of Foster Engineering, Inc. 1. Able & Baker LLP auditors are beginning their audit of Foster’s 2017 financial statements. Because of changes in the market and increased...
IDEAS PLEASE below are the requirements and what i need ideas maybe sources to write the...
IDEAS PLEASE below are the requirements and what i need ideas maybe sources to write the paper FASB Project "The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the guidance and education of the public, including issuers, auditors, and users of financial information." (http://www.fasb.org) Project Objective Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project. Requirements The FASB has several ongoing projects that...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths from single-parent families. Buddies screens, trains, motivates, and supervises the adult volunteers, who are paired with children referred by local agencies and by parents concerned with their children’s future. The organization provides a service that can augment any professional help a child may be receiving. But its main role is one of prevention by providing a meaningful adult relationship for a child before the...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths from single-parent families. Buddies screens, trains, motivates, and supervises the adult volunteers, who are paired with children referred by local agencies and by parents concerned with their children’s future. The organization provides a service that can augment any professional help a child may be receiving. But its main role is one of prevention by providing a meaningful adult relationship for a child before the...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths from single-parent families. Buddies screens, trains, motivates, and supervises the adult volunteers, who are paired with children referred by local agencies and by parents concerned with their children’s future. The organization provides a service that can augment any professional help a child may be receiving. But its main role is one of prevention by providing a meaningful adult relationship for a child before the...