live soft skills

By Soft Skills NON FINANCIAL INDICATORS are very important in modern world of business .It greatly affect the performance of business ,PESTEL , MODEL  is useful for external analysis P Political factors E Economic factors S Social factors T Technological factors E Environmental factors L Legal factors  it is important not to just list PESTEL factors AS  this does not in itself tru picture . i, which factors are most likely to change and which ones will have the greatest impact  in their own environment. For some such as pharmaceutical companies government regulation may be critical; for others, perhaps firms that have borrowed heavily, interest rate changes may be a huge issue. Managers  decide on  importance of various factors and way of doing this is to rank  and also rate the impact if it did. The higher the change occurring and the greater the impact of any change

Parts of a Business Letter 1 Date of  sent 2 Sender's Address means TO 3 Other  Address 4 Situation 5 Body of letter 6 Closing and results

. Charge and collection of Zakat.___(1) Subject to the other provisions of this Ordinance, Zakat in respect of assets mentioned in the First Schedule shall be charged and collected, on compulsory basis, for each Zakat year, at the rates and in the manner specified therein, and as may be prescribed, from every person 1[who is on the Valuation Date, and for 2[whole of the] proceeding Zakat year been, sahib-e-nisab,] and who owns or possesses such assets on the Valuation Dare Provided that where an asset mentioned in the First Schedule has been assigned by the person owning or possessing it, in favour of another person. Zakat in respect of that asset shall be charged and collected on compulsory basis as if the asset had not been so assigned ; 4[Provided further that, if an asset was owned or possessed by a person on the Valuation Date but is owned or possessed by some other person on the Deduction Date, the Zakat on such asset shall be charged and collected from such other person on behal...

 By soft skills ISRE 2400: Engagements to review financial statements 2.1 A review will enable the auditor to state that nothing has come to his attention that causes him to believe that the financial statements are not prepared in accordance with an identified financial reporting framework. This is known as negative assurance. 2.2 The auditor should plan and perform the review with an attitude of professional scepticism recognising that circumstances may exist which cause the financial statements to be materially misstated. 2.3 The auditor should obtain sufficient appropriate evidence primarily through enquiry and analytical procedures, to be able to draw conclusions. 2.4 The auditor and the client should agree on the terms of the engagement and an engagement letter should be signed.

soft skills Ethics is concerned with behaviour, and trying to ensure that auditors do "the right thing" [. FUNDAMENTAL ETHICAL PRINCIPLES ] .. whatever that is! As such, it is a difficult area to have rules , as it would usually be possible to imagine a situation where the rules would lead to the wrong answer. Typically therefore, ethics is about guidance , relying on the professionalism of auditors to apply this guidance in an appropriate manner when faced with difficult situations. Guidance is contained in the ACCA Code of Conduct ... but if every Institute had its own ethical code, there would be several codes in the UK alone, and hundreds around the World! An International Code of Ethics has been developed by IFAC, in the hope of providing countries with a starting point for developing their own Codes – and to try to create some consistency in guidance around the World. In the UK, the Auditing Practices Board has created a series of Ethical Standards based on the IFAC Cod...

soft skills Just as there are accounting standards, there are also audit standards to give auditors guidance (and in some cases rules) as to how they should perform their audit work. Many countries have their own national audit standards – e.g. In the UK, the Auditing Practices Board set them. There are also International Standards on Auditing (ISAs), which are set by the International Audit & Assurance Standards Board (IAASB), part of the International Federation of Accountants (IFAC). For countries without their own audit standards, the ISAs provide a set of standards that can be adopted, or altered based on national requirements. Quality control is partly achieved by having audit standards to follow ... however it is also achieved by the RSBs (e.g. ACCA) checking the audit work of their members, and handling complaints. The RSBs also have rules to ensure their members are keeping up to date with technical changes. AUDITING STANDARDS AND QUALITY CONTROL

soft skills APPOINTMENT OF EXTERNAL AUDITORS { IPOINTMENT OF EXTERNAL AUDITORS,leaves... Audit Committee,RESIGN REMOVE }n most countries, the auditors are reporting to the shareholders, so are appointed by the shareholders. The Board of Directors will propose a Firm and this will then be voted on by the shareholders. Usually, they are appointed on an annual basis at the AGM. If auditors are needed mid-year (e.g. because the previous Firm resigned) then it is often possible for the Board of Directors to appoint a Firm up till the next AGM. In most large companies, there will be a specialist Board Committee that will recommend a Firm to the main Board – this committee is called the Audit Committee . When the external auditor leaves... Sometimes it is necessary for the auditors to RESIGN . If an auditor resigns, they may wish to speak to the shareholders to explain their reasons. Therefore, the law allows them to require the company to call a General Meeting (GM), or to require the compa...