Goodwill and fair value, Auditing

Assignment Help:

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.


Related Discussions:- Goodwill and fair value

Trademarks and patent, Trademarks and Patent Trademarks and then writt...

Trademarks and Patent Trademarks and then written off over their useful lives and patents may be capitalized along with any renewal fees being charged to revenue. Whether a tr

Control Document, What are the strength of Stock transfer note

What are the strength of Stock transfer note

Cloud 9 pty ltd case study, Using the 30 September 2011 trial balance (appe...

Using the 30 September 2011 trial balance (appendix to this case study) calculate planning materiality and include the justification for the basis that you have used for your calcu

Explain audit-financial records, What is an audit, what financial records a...

What is an audit, what financial records are available and what is their individual function in completing your audit? Audit is an independent examination of financial informat

management functions and the audit, Describe the management system within ...

Describe the management system within your case study business. Assess the risk of fraud in this business, and suggest methods for detection Management system in this ca

I dont understand, Ask qub) How might financial incentives in the form of c...

Ask qub) How might financial incentives in the form of client services unconsciously introduce auditor bias into the independent audit function? Give some specific real-life exampl

Briefing paper on the issues facing established audit firms, Case Study: ...

Case Study: You have commenced work as a graduate auditor with a well established audit firm. The firm has a wide client base, which includes some of the largest companies in t

Necessity of transactions with related parties, Necessity of Transactions w...

Necessity of Transactions with Related Parties Transactions along with related parties are essential for several reasons: (a) Several financial scandals including related p

Roles of the auditor, What is the role of the auditor, and what are the key...

What is the role of the auditor, and what are the key duties the auditor must carry out? Role of the Auditor In modern commercial environmental it is desirable that bus

Existence - plant and machinery, Existence - Plant and Machinery Howev...

Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises.  Items of machinery and plant can be numerous mobile

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd