Discuss the following two statements: 1- the corporate charter and the bylaws of a company are...

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Finance

Discuss the following two statements:
1- the corporate charter and the bylaws of a company are legaldocuments; therefore, they should not be examined by the auditors.If the auditor wants information about these documents, an attorneyshould be consulted.
2- the most important audit procedure to verify dividends forthe year is a comparison of a random sample of cancelled dividendschecks with a dividend list that has been prepared by management asof the dividend record date.

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1 The corporate charter and bylaws of a company are legal documents and not public documents But they specify the purpose for which the company is formed its objectives the constitution and powers of the board of See Answer

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Discuss the following two statements:1- the corporate charter and the bylaws of a company are legaldocuments; therefore, they should not be examined by the auditors.If the auditor wants information about these documents, an attorneyshould be consulted.2- the most important audit procedure to verify dividends forthe year is a comparison of a random sample of cancelled dividendschecks with a dividend list that has been prepared by management asof the dividend record date.