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!
Post Balance Sheet Events
Post balance sheet events occupy a very significant place in auditing and hence there is generally a program of work which is carried out in this area. This involves:i. A routine examination of that events such as group of debts, payment of creditors, sale of stocks, resolution of pending litigation;ii. A comparison of significant ratios previous to and after the year finish, seeking explanations for several material differences as they may show the presence of non-adjusting or adjusting events or have going to relate implications.iii. Verification of all material provisions and contingent liabilities at the newest feasible date prior to signing of the accounts to check whether few additional evidence exists such may affect original estimates required.iv. Review of director's minutes looking for any main new losses of customers or contract or losses of major contracts, and changes in accounting policy, capital expenditure commitments, and new borrowing or share issues, abnormal transactions or extra-ordinary, changes in market situation or products.v. Discussions along with the management, a review of management accounts, review of cash flow projections and profit forecasts, review of non-risk areas andvi. Review of relevant external information as reports in newspapers. His review might be as near as probable to the date of signing the audit report.
Necessity of Accountant The accountant is not necessary To expand his enquiries beyond the information enclosed in the relevant documents as supplemented through such e
(a) In order to draw reasonable conclusions, an auditor is required to identify and use audit procedures to gather audit evidence. You are required to identify and explain, five
Key Audit Areas Key audit areas in detail (a) Ascertainment of creditors and debtors: Insurance companies do not keep their personal ledgers in such a way as to prod
what difference between risk assessment procedure and substantive procedures? could you please provide some examples on each procedure?
In planning the audit work of the Ministry, the audit staff member collected these details relating to the construction of an office complex. 1. In September 1994, the Ministry
online exam in Auditing class. the exam will be about 2 hr. Thank you
Transferee Liability - A person may be held LIABLE for another taxpayer's delinquent taxes if: 1. The transferee received assets of the transferor-taxpayer; and 2. The transf
Auditors Procedures - Audit Process The relevant authority on post balance sheet events is ISA. The preparation of loss and profit account and balance sheet will forever inclu
What is an external auditor's responsibility in regard to finding fraud?
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
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd