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!
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 is ownership and existence. Motor vehicles to be mobile may not be obtainable for the auditor to physically check whenever he pays his visit. Concerned evidence can suffice to prove existence for example however we own the motor vehicle we expect that whether it is being required it will incur costs like as insurance, fuel, maintenance and repairs. The chassis and engine numbers may be checked against the log book to make sure which it is the same vehicle such we are looking on as clients have been recognized to change the registration number plates from a vehicle to another.
Beneficial Ownership
Make sure that the log book is in your client's identification.
Fairness - Auditing The word fair can have the following meanings: on the other hand clear, plain and distinct and on the one impartial, equitable and simple. When fair is
Need of Assertions in Obtaining Audit Evidence Management is responsible for the fair presentation of financial statements which reflect the nature and operations of the entit
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
The most effective means for an AUDITOR to confirm his understanding how internal control over financial reporting is designed and operates to test and evaluate its effectiveness.
B. The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code ha
Related Parties - Audit Evidence IAS 24 prescribes the disclosures essential to the possibility to draw attention which the financial position and loss or profit of an entity
Basic Elements of a Management Representation Letter Whenever requesting a management representation letter, such the auditor would request which it be addressed to the audi
Comparison of the Negative and Positive Methods Negative Method According to this method of circularisation, the customer is asked to communicate only when he does not ag
Valuation - Detailed Audit of Stock IAS 2 prescribes such stock be priced at the lower of price and net realizable price, It is up to the auditor to ensure that net realizable
Requirements of the Companies Act Here the seventh schedule to the Companies Act gives the matters which must be expressly stated in the AUDITOR'S REPORT 1. Where they have
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