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Goodwill and Fair Value
The main points the auditor needs to verify for any goodwill arising in the accounting period are as follows:
(i) Examine the procedure used to find out the fair price of the consideration provides to purchase the shares of the subsidiary and the fair price of the net assets in the subsidiary on the date of acquisition. The rare verification procedures must be used, rather the auditor should consider the requirement for an expert valuation.
(ii) The accounting treatment of the goodwill at one it has been quantified requires to be ensure it is being accounted for incompliance along with IFRS 3
(iii) A check is required which the detailed disclosure requirements of IFRS 3 are complied along with.
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.
IAS 20 Accounting for Government Grants and Disclosures IAS 20 Accounting for government grants and disclosures of government assistance The auditor needs to verify the
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