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Disclosure and Presentation - Audit Process
IAS 16 provides exclusive disclosure requirements.
Fixed assets should be split into appropriate classes and the following should be disclosed:
a) The depreciation methods used
b) The useful lives or the rates of depreciation used
c) The total depreciation for the period and
d) The gross amount of depreciable assets and the related accumulated depreciation
The split between freehold and leasehold land must be shown together with the split between long and short term leases. Presently where the client has fully depreciated assets which are material their cost and notional depreciation charge is also disclosed. Where fixed assets have been revalued and incorporated in the accounts then also the qualification of the valuer, the address of the valuer, the name of the valuer, and the date of valuation also must be disclosed. The modification of the historical cost accounts must also be disclosed as a note to the accounts.
four factors which influence the reliability of audit evidence
describe how the auditors would determine that all investments income from shares had been properly recorded in the accounting records
list four assertions that relate to account balances
Indications of inapplicability of Going Concern Unfortunately, Insolvency is a development industry as the economy suffers a down turn and consequently for a majority of enter
Advantages and Disadvantages of Joint Audits The general disadvantages and advantages of joint audits as: Advantages 1. All fees and work are welcome to audit firms. 2. A
I need a 5 schedules like the sample on the attachment please follow the Instructions you will see in the instructions attachments 4 companies and you have to choose 5th one by yo
nature and scope
Verification Procedures - Long-Term Liabilities a) Received a schedule detailing the sums due at the starting of the year, redemptions and additions and the sum due at the yea
Auditors Responsibilities with regard to related parties ISA 550 Related Parties states which the auditor should perform audit process designed to find sufficient suitable
IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a
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