The Auditors
The function and role of the auditors is to audit a company’s account before their presentation to members. An approved company auditor is a person approved by the Minister for Finance, whose approval has not been revoked. An approved company auditor includes person qualified to act as an auditor of the company under the law of the place in which the company is incorporated.
The main objective of an auditor are to certify the correct and effectiveness of the financial position at the company that have been shown in the loss and profit account and also at the balance sheet. This is important to detect any errors and at the same time to detect any fraud. Another function of an auditor, to make an examination on the company’s account before the account is being presented to the shareholders of the company. This process will make sure that the auditors of the company will report to the shareholders on the circumstances that have been committed on that particular account.
Generally, the role and functions of the auditors of the company is:
• To determine and make report whether the account that has been audited is give true and wide information about the financial status of the company.
• It also important to for the company compliance that has a connection to the provision of the Act.
Company Act stated that:
• Each company must have an auditors to control their accounts
• The auditor so appointed must be an approved company auditor and must not be otherwise closely associated with the company.
As a conclusion that we can make, the auditors is very important for the company because they play a very important role to the company, shareholders and also for the third parties of the company. The auditor also must be independence and should not bias for what they have done. This is because the report that they will be produced will determine the financial status of the company. The auditors also should report any problem that have rise to the shareholder about the company account without any fear.
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