Semester “Spring 2011”


GDB “Discussion Question”



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“Ali & Ahmad Co. consisting of two partners Mr. Ali and Mr. Ahmad who acts as auditors of Shafee group. Ali & Ahmed splits up and, by mutual agreement Mr. Ali continues the practice in the name of Ali & Ahmad Co. while Mr. Ahmad starts his practice as Ahmad & Co”


Required:


Keeping in view the above situation answer the following questions:

(i) Will Ahmad on his cessation as partner of Ali & Ahmad Co. automatically cease to be auditors of Shafee group, or will he be deemed to continue as auditor of Shafee group?
(ii) If Ahmad is deemed to continue as auditors, would Ahmad and Ali & Ahmed Co. automatically become joint auditors of Shafee group?


Your answer must be confined in two to three lines. Avoid including extra material for answering. Just provide to the point answer for requirements.


Instructions:


Read the following instructions before giving your comments on GDB:


1.Use the font style “Times New Roman” and font size “12”. 2.Your answer should be relevant to the topic i.e. clear and concise. 3.Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
4.Books, websites and other reading material may be consulted before posting your comments but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0). 5.Obnoxious or ignoble answer should be strictly avoided.