Galway Advertiser 1991/1991_06_20/GA_20061991_E1_019.pdf 

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T h e i n t r o d u c t i o n o f t h e C o m p a n i e s A c t 1990 will have far r e a c h i n g effects o n d i r e c t o r s a n d t h e role they play in t h e c o n d u c t o f t h e affairs o f their businesses. However the A c t a l s o a s k s w h e r e d o t h e s h a r e h o l d e r s fit i n a n d what about c o m p a n y advisors a n d the auditors. T h e s e c o n d o f seven articles by M I C H A E L C O R L E S S in t h e series d e a l s w i t h t h e Auditor.

THE COMPANY AUDITOR
The role of the auditor has often been misinterpreted by both companies and the public at large. The public will consider that the auditor should discover every anomoly and bring the culprits to justice. The company or organisation however expect the auditor to assist and protect them from exposure to nasty situations. The facts however should be clearly understood: APPOINTMENT The shareholders (who are the owners of the company or organisation) will appoint the directors to make use of the assets with a view to making profit, providing employment or whatever. The directors as custodians of the assets will have direct control over the day to day operations in terms of how business is conducted and the manner in which records are maintained. Under law auditors must be appointed to report to the shareholders on the affairs of the company. The auditor appointed by the shareholders must be a member of an Accountancy Body recognised by the Minister for Industry and Commerce and authorised to conduct audits. The directors who are appointed by the shareholders will recommend appointment of the auditors to the shareholders, who have the final say. The appointment should be made at each annual general meeting. RESPONSIBILITY The auditor's primary responsibility is to the shareholders. However the auditor should consider the impact that the financial statements may have on bankers, suppliers, employees, lenders or others. Consequently the auditor will express an opinion as to whether the financial statements are true and fair. DUTIES The auditors duties would heretofore have been understood to include the following: --comply with auditing standards which are set by the recognised Accountancy Bodies. --report to management with suggestions concerning issues which require to be addressed. - report to the shareholders in accordance with the law. However the 1990 Act has introduced new provisions in relation to: --access to information on a timely basis, --reporting to the Registrar of Companies where proper books of accounts are not kept or where the books are not kept up to date. --updating qualification and training requirements of the auditor, --formalising the procedures where removal or resignation of auditors is concerned.

Customer service does not merely mean an Irish smile and a complaints department. It means always putting the customer first. Overall customer service involves everyone in an organisation. This philosophy is very much part of the two day customer service seminar, "Putting People First," that the Western Management Centre, in association with Time Manager International, are bringing to Galway on the 2nd & 3rd July 1991. This internationally acclaimed programme is designed for all types of business and the main focus is on customer service as a key competitive weapon in today's market. Brendan Regan, of Western Management Centre and Peter Hancock, of Time Manager International announcing the forthcoming international seminar on customer service, "Putting People First." which will be held in Galway on the 2nd & 3rd July, 1991

NEXT WEEK:
SHADOW DIRECTORS
The author's views reflect just some of his observations and he recommends that professional advice should be obtained where any person wishes to obtain more information about his or her duties and responsibilities concerning the Companies Acts 1963 to 1990. M I C H A E L C O R L E S S is a Partner w i t h E r n s t & Young in G a l w a y

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R TR OA Y SCHOLARSHIP
Applications for 1992-93 Rotary Foundation Scholarships to be Awarded worldwide a r e now available from local Rotary clubs. The Scholarships, which are designed to further international understanding and goodwill, provide for one academic year of study abroad in one of the 172 countries and geographic regions where Rotary clubs are located. Five types of Rotary scholarships are available: graduate, undergraduate, vocational, teacher of the handicapped. and journalism. Applicants for graduate scholarships must be between the ages of 18 and 30: for undergraduate scholarships, between 18 and 24; and for vocational, journalism, and teacher of the ' handicapped scholarships, between 21 and 50. Approximately 1,000 scholarships will be awarded. In addition, up to 15 scholars will be chosen for a 21-month program of language training and academic study in Japan. Another type of scholarship, offered only to applicants from developing countries, provides up to two years' study toward an advanced degree in agriculture. Scholars receive roundt r i p t r a n s p o r t a t i o n , all academic fees, room, board, and necessary educational supplies, as well as funds for limited educational travel and contingency expenses. For application forms contact Frank Harewood. Harewood Associates. Cathedral Building. Lower Abbey g a t e Street. T e l . 091-61046.

Trade Delegation
A trade delegation from Ireland recently attended the Boulogne-Sur-Mer Seafood Exhibition where they met with French Seafood importers. Pictured bottom right at a c o n f e r e n c e o r g a n i s e d by BIM in conjunction with t h e exhibition were from left: M. Corset, Director, Chamber of Commerce, Boulogne-Sur-Mer; G e r r y O'Sullivan. Manager. BIM Paris and Shay Garvey. C h i e f E x e c u t i v e . Irish Salmon Producers Group.

Graduates of the Post-Graduate Diploma in Marketing Practice at U. C. G. pictured recently after graduating. The diploma which includes thirty weeks company placement in which the graduates engage in a wide range of Marketing activities including research into home and export markets, customer service, personal selling and marketing planning. Back row: Seamus Hughes, Mark O'Donoghue and Eamon Beatty. Middle Row: Brid Whoriskey, Envision Marketing Course Director, Domhnait McLaughlin, Mary Hosty, Erin Keane, Mave Joyce and Greg Moron Course Director. Front Row: Richelle Hogan, Michelle Marlborough, Clare McMahon and Margaret CoUins