Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Issues in Audit of Intangible Assets
The two key issues in such audit of intangible assets are:
(a) Recognition of intangible assets
The audit problem here is to make sure that all the requirements of IAS 38 are net before intangible assets are identified. The identification, measurement and distinction among 'research' and 'development' expenditure are potentially tricky areas for the auditor.
(b) Measurement after initial recognition
Intangible may only be revalued upwards some times in practice this may be rare whether an active market in them exists. Whether an active market does exist evidence of valuation will be available. Active markets are usual in many industries. As for example fishing quotas in the fishing industry may be purchased through a company at Kshs. per ton. This increase can be shows in the financial statements through the company provided such it is verifiable from observed activity of selling and buying of quotas on the market and the verification of value evidence.
Incorporated Banks under Companies Act Banks are incorporated under the Companies Act like any other business but are granted special privileges under the same Companies Act a
Skills and Objectivity of Expert The skills and competence of the expe rt Whether planning to require the work of an expert, so the auditor should assess the professiona
Why is studying Auditing different from studying other accounting topics?
You are the partner in charge of the audit of Drugs4U Ltd, a company which develops, manufactures and sells to the a trade market a wide range of drugs which promote healthy living
INDEPENDENT AUDITORS' REPORT Board of Directors Los Angeles County Fair Association Pomona, California We have audited the accompanying consolidated statements of financial posi
Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.
under what circumstances are internal controls inappropriate for auditors to check?
You are the auditor of ABC Company and the audit process is almost complete. The audit report is due to be signed next week. However, the following additional information on two ma
Audit Procedures -Research and Development The auditor should ensure that: a) Any costs incurred in the buy of fixed assets in order to give facilities for development and
Specialized Audit Situations Companies carry on thousands of different types of trade, business or professional activities. It is not possible in a manual on general auditing
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd