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Leasehold Property - Audit Process
Exactly the same process is adopted for leasehold buildings and land as applied about freehold buildings and land except in the matter of depreciation. Here is no split between buildings and land while it is leasehold. The buildings and land are amortized over the life of the lease even if the buildings should an economic life longer than which of the lease. The argument for this is such the landlord after the end of the lease can comfortably inquire you to go and take your building and he wants his land back. The term required is amortization not depreciation.
As an auditor, how would you react to the following situation? The company produced photocopies of fixed deposit receipts as the original receipts were kept in the iron safe of the
Identify and explain FIVE risks to independence arising in carrying out your audit
What techniques used during an audit? Ans) ? Be professional at all times. Avoid being judgmental. ? Follow safety procedures, clean room procedures, and all other needed pr
Motor Vehicles - Audit Process Similar considerations govern the audit of motor vehicles as to those relating to machinery and plant. The simply matter of consideration now i
how to calculate materiality given the acoountin period information
A. Board of Directors Best Buy's Board is elected by the shareholders to oversee the business and affairs of the company. The board counsels, advises and oversees management wi
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Benefits of Internal Audit are following: It is in-expensive. No charted accounted is needed to audit internally. Faults will be removed before preparing financial stateme
Audit of Holding Companies and Group Accounts Authoritative documents are as: The Companies Act Cap 486 IAS 27 IAS 28 IAS 31 IFRS 3 ISA 600 r
Question 1: "While their roles sometimes overlap, financial statement auditors and forensic accounting investigators tackle financial fraud issues from different perspectives,
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