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Revision question on financial accounting conceptual framework NBAA, B2, Nov 2018.

(a)  Identify the main users of the financial statements and describe the adequacy of the general purpose financial statements to cater for the reasonable needs of its major users.                                                                 

(b)       The  International   Accounting   Standards   Board   (IASB)   issued the Conceptual Framework which among other purposes assists the Board in the development of future IFRSs and … Read the rest

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Revision question on code of ethics NBAA May 2019.

Dibal Associate, an audit and assurance firm, has been engaged as auditors for the M & B Bank Ltd, a public limited liability Company for some time now. M & B Bank has sixty branches throughout the country including branches in Dodoma, Mwanza, Tanga and Zanzibar. The Bank is one of the banks in the country which can boast of … Read the rest

5 means by which accountants can be encouraged to act in the public interest.

The role of the accountant under certain situations is to consider the public interest before the interest of his client or employer to protect society against some forms of financial risk. In executing this role, the accountant is required to ensure that the codes of ethics of professional accountants are complied with. Such compliance should lead to the highest … Read the rest

Public sector auditing revision question (NBAA, B3,NOV 2018)

(a)  Although  both,  Controller  and  Auditor  General  (CAG)  and  Internal  Auditor General (IAG) are public officers and their offices have been established to save public interests, they have got different roles.


Differentiate the roles of the CAG from those of IAG.

(b)  The Controller and Auditor General (CAG) may be required to conduct Value … Read the rest