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Audit Procedures - Intangible Assets
The auditor's process as far as goodwill is relating would involve as:
a) Vouching for details as per the buy agreement of the values attributed to the assets purchased and where the price contained was reasonable seems similar businesses.
b) Review of the accounts of the business relating and find out where the business is profitable and therefore can justify the continued recognition of kindness as an asset.
c) Consider impairment tests in accordance along with IAS 36. As bottom up and top down tests within IAS 36 Impairment of Assets
d) Seems the requirements of ISA 545 Auditing Fair Value measurements
Action if Management Refuses to provide Representations Whether management rejects to provide a representation which the auditor considers compulsory, this constitutes a scope
Relevance The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contained in the financial sta
oversee commission staff to ensure individuals are properly trained and monitored probable risks, controls and audit tests
Leasehold Property - Audit Process Exactly the same process is adopted for leasehold buildings and land as applied about freehold buildings and land except in the matter of de
IAS 12 Income Taxes 1AS 12 needs a deferred tax liability should be well known for all taxable temporary difference with minor exceptions as goodwill that is not allowable for
Auditors Procedures - Audit Process The relevant authority on post balance sheet events is ISA. The preparation of loss and profit account and balance sheet will forever inclu
State four factors considered determining sufficiency of audit evidence
Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org
Disclosures about Inventories - IAS 2 IAS 2 specifies disclosures about inventories. In a large manufacturing company, no article in the balance sheet appears verification
Amounts Derived From Financial Statements Please note here the auditor is interested in preceding year's evidence since 1. The Companies Act states such corresponding amounts
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