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.
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
Assertions about classes Assertions about classes of transactions and events for the period under audit : a) Occurrence -events and transactions which have been recorde
Types of Transaction - Related Party Fundamentally two types of transactions which arise between a related party and a company as: A. It is usual for members of a collectio
Co-operative Societies and Parastatals Co-operative Societies An audit in this case is carried out as a general audit except you should notice that the auditor is appoi
Distinguish between early and modern audits
Factors Affecting Statistical Technique Factors to be taken into concern before adopting statistical techniques as: a) The number of clients to whom it is appropriate since
INDEPENDENT AUDITORS' REPORT Board of Directors Los Angeles County Fair Association Pomona, California We have audited the accompanying consolidated statements of financial posi
Problem 1: You have been asked to design a system of controls so as to prevent unauthorized payments being made from the bank account. You are required to identify the controls
The management of a newly incorporated company is unsure as to the need for an audit. Your services have been requested to explain to management the concept of auditing. Requir
Meaning of the auditing definition a) Orderly and efficient manner: An organization which is run in an orderly and proficient manner is able to satisfy the requirements o
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