Guarantee company and ISA 320: Difference between pages

Latest revision as of 15:52, 24 June 2021

Auditing - financial reporting.

International Standard on Auditing 320, dealing with materiality in planning and performing an audit.

Issued by the Financial Reporting Council.

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-''Company law - limited liability - guarantee.''
+''Auditing - financial reporting.''
-In a guarantee company the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company).
+International Standard on Auditing 320, dealing with materiality in planning and performing an audit.
-This type of company is also known as a ''company limited by guarantee''.
+Issued by the Financial Reporting Council.
-The members of the company are known as guarantors.
-Guarantee companies are most often used for charitable purposes, or other not for profit purposes.
-For commercial activities, companies ''limited by shares'' are generally a more convenient choice.
-Guarantee companies are technically owned by the guarantors.
-However, in the usual cases where the company is a charity or not for profit undertaking, the guarantors would not be seeking any personal benefit from their ownership.
 == See also ==
-* [[Bankruptcy]]
+* [[Audit]]
-* [[Charitable status]]
+* [[Financial reporting]]
-* [[Companies registry]]
+* [[Financial Reporting Council]]
-* [[Company]]
+* [[Immaterial]]
-* [[Guarantee]]
+* [[ISA]]
-* [[Guarantor]]
+* [[Materiality]]
-* [[Limited company]]
-* [[Limited liability]]
-* [[Not-for-profit]]
-* [[Public limited company]]
-* [[Unlimited company]]
 [[Category:Accounting,_tax_and_regulation]]
 [[Category:The_business_context]]
+[[Category:Compliance_and_audit]]