Checking consolidation papers, Auditing

Assignment Help:

Checking consolidation papers

The auditor pays particular attention to the calculation of:

Goodwill arising on acquisition and consolidation
Pre-acquisition and post-acquisition profits
Minority interest
Treatment of intercompany profits in stocks
Agreements of intercompany indebtedness
Necessary cancellations in respect of intercompany cash in transit
Turnover, excluding group trading
Necessary adjustments in respect of group companies with different accounting period end.
Taxation

The consolidated accounts must comply with all relevant accounting and legal requirements.

Related Discussions:- Checking consolidation papers

Insurance companies, Insurance Companies Authoritative documents invol...

Insurance Companies Authoritative documents involved as: The Insurance Act The Companies Act IFRS 4 Insurance Contracts The major legislation governing insu

Current audit file, Current Audit File The current audit file might inc...

Current Audit File The current audit file might include inter alia: a) A copy of the audited financial statements and any report prepared as a result of audit work carried out

Assignments, Describe the factors which decide the broad area of Scientific...

Describe the factors which decide the broad area of Scientific activity?

Cash and window dressing - building society, Cash and Window Dressing - Bui...

Cash and Window Dressing - Building Society Cash Possibility of misappropriation and error usually accompany the handling of cash. Building societies transactions towards

Audit reports - going concern, Audit Reports - Going Concern In the va...

Audit Reports - Going Concern In the vast widely of cases, the going to relate assumption is suitable and whether applied no mention require be made in the auditor's report.

Code of ethics for auditor, B. The following situations involve a possible ...

B. The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code ha

Audit evidence, four factors which influence the reliability of audit evide...

four factors which influence the reliability of audit evidence

Auditors procedures during stock taking, Auditors Procedures During Stock T...

Auditors Procedures During Stock Taking The main task during stock taking is to ascertain where the client's employees are carrying out their commands properly. It is particul

Management representations as source of audit evidence, Management Represen...

Management Representations as a Source of Audit Evidence International Standard on Auditing as abbreviated ISA 580 Management Representations gives guidance and standards on t

Fraud and error, Fraud and Error ISA 240: the Auditor’s duty to Conside...

Fraud and Error ISA 240: the Auditor’s duty to Consider Fraud and Error defines that whenever planning and performing audit procedures, computing and reporting outcomes thereby

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages