loan to director
subst
Minutes of meeting
Inspect minutes at leas 75% voting (or requirements) @ shareholders meeting
Solvency and liquidity test according to them
Inspect trial balance afterwards to see if they really passed solvency and liquidity
Terms reasonable and fair
MOI for specific requirements
MOI for specific restrictions
Inspect copy of written notice sent to shareholders ito 45(5)
Loan agreement
Name and parties
Amount
Rate
Payment terms
Date granted
Bank statement loan was granted
Calculation of disc cash flow and reperform
figures on schedule with those on agreement
specific disc rate?????
Loan balance at year end
Reperform interst
Inspect cashbookfor dates and amounts for receipt of cash payments
Confirmation letter form director
Casting on loan balance general ledger
agree to trial balance, gl and afs
AFS to ensure that
Separately disclosed
Presented as current asset
Valuation and occurrence in management rep letter