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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
Non-Adjusting Events - Audit Process Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price o
Method of corrercting evidence?
Relevance - Sources of evidence The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contain
Accounting Requirements - IAS 40 Investment Properties IAS 40 prescribes the accounting treatment about investment property and related disclosure necessities. Investment
History - True and Fair International Standards on Auditing (ISAs) make it quite clear that the terms 'true and fair' and 'present fairly' which are used in audit reports in m
Problem 1: You have been asked to design a system of controls so as to prevent unauthorized payments being made from the bank account. You are required to identify the controls
Techniques of obtaining evidence ISA 500 mentions them as: (a) Inspection of records or documents, (b) Inspection of tangible assets, (c) Observation, (d) Inquiry, (e) C
(a) Define each of the following four concepts. -Master Data Management -Data Quality -Data Governance -Cloud Computing Explain how they relate to the various Busine
What fundamental accounting concepts must you keep in mind in preparing to carry out your audit? Accounting Concept and Records Fundamental Accounting concepts are cove
Responsibilities of the Auditor The Auditor has no duty for the prevention and recognition of fraud and error though the annual audit might act as a restraint. As explained
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