What are the legal, financial and accounting implication of a Lord Mayor who entered into an emergency contract without seeking prior approval bass on chapter 13 of the 1992 Constitution of Ghana. With more explanation and reference

What are the legal, financial and accounting implication of a Lord Mayor who entered into an emergency contract without seeking prior approval bass on chapter 13 of the 1992 Constitution of Ghana. With more explanation and reference

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter5: Ethical Responsibilities Of Independent Auditors

Section5.4: Ipoc International Growth Fund, Ltd.

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Concept explainers

Emergency Fund

The emergency fund is an amount that is kept aside to meet financial emergencies such as medical expenses and debt settlements. Emergency funds reduce the burden on people during their hardships. People save small portions of their earnings or paychecks as emergency funds to meet financial emergencies. Emergency funds should be saved or invested in such a way that they must be easily liquidated during emergencies. The main purpose of an emergency fund is its availability when required.

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