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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.
State four factors considered determining sufficiency of audit evidence
Assessment Criteria Sheets Risk analysis report Subject Learning Outcome: To examine techniques used by auditors, including risk analysis, evidence collection and evaluation Below
Selection of a Sample - Audit Process The following accounts must be involved in debtor's circularisation: 1) Large balances since they are large and the moreover you can sub
Statistical techniques Factors to be taken into consideration before adopting statistical techniques: a) The number of clients to whom it is appropriate because set up costs a
Relevance - Sources of evidence The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contain
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
Accounting Principles and Policies The user of the accounts expects that the accounting principles and policies used will be in conformity with IAS, be generally accepted, be
As a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Local Corporation (TLC). In addition, the p
Management Representations as a Source of Audit Evidence International Standard on Auditing as abbreviated ISA 580 Management Representations gives guidance and standards on t
Case Study: Hide-It (HI), a family-owned business based in Tombstone, Arizona builds custom homes with special features, such as hidden rooms and hidden wall safes. Hide-It has
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