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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
Management Representations as a Source of Audit Evidence International Standard on Auditing as abbreviated ISA 580 Management Representations gives guidance and standards on t
Question : Describe the methodology and process of conducting an audit. Define audit Describe the methodology of conducting an audit Describe the process of conduc
Matters of Audit Process Another matter to be covered as: 1. Accounting policies: these should be uniform all over the group and should be properly disclosed. 2. Consoli
Assertions about disclosure Assertions about disclosure and presentation : a) Rights and Occurrence and obligations -disclosed transactions and events and other issues
The most effective means for an AUDITOR to confirm his understanding how internal control over financial reporting is designed and operates to test and evaluate its effectiveness.
Communication: Whenever the auditor recognizes a misstatement resultant from fraud, or a suspected fraud, or error, the auditor must consider the auditor’s duty to communicate
Bank - Cash and Bank Balances The major concern in this area is to establish the existence of the balances and more currently due to failures in some financial institutions in
share issue discount
An audit helps stay track of where the currency or money is going and makes sure the money is going anywhere it is believed to and not in someone''s pocket. An audit may also help
B. For the one activity/process you ranked the most significant, identify and evaluate four risks. a. Two of the risk should be high to medium significance, and at least one shoul
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