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

Over head, project report on absorption of overhead and its different meth...

project report on absorption of overhead and its different method

Writing an assignment, am happy to pay someone to do my acc assignment whic...

am happy to pay someone to do my acc assignment which is more auditing one

Reliability - sources of evidence, Reliability - Sources of evidence R...

Reliability - Sources of evidence Reliability of audit evidence is influenced through its nature and its source and since it is dependent upon the specific circumstances, we c

Auditing, YvesLaurent has just been put in charge of the BeautyNatural Inc....

YvesLaurent has just been put in charge of the BeautyNatural Inc. audit.BeautyNatural is a small, but growing retail chain of natural cosmetics stores. BeautyNatural needs to borro

Financial statements rely, Financial Statements Rely All Financial prov...

Financial Statements Rely All Financial providers people must be sure that the financial statements can be relied upon. It should be noted that: 1. The auditor himself must be

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

Different functions of internal audit, The function of internal audit is co...

The function of internal audit is concerned with analysis of internal check. The internal audit can look into the duties of every employee. All employees are given jobs on the basi

Auditors independence, Identify and explain FIVE risks to independence aris...

Identify and explain FIVE risks to independence arising in carrying out your audit

Joint audits-advantages-disadvantages, General advantages and disadvantages...

General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods

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