Audit approach - audit of accounting estimates, Auditing

Audit Approach - Audit of Accounting Estimates

The accounting and auditing matters are mainly concerned along with recognizing the point in time at that the initial disclosure even happens, and also ensuring about lonely suitable costs are involved in any provision for restructuring such is established.  Suitable formats must be required for the information to be disclosed.

The key auditing issues arising are such the auditors should confirm when they agree along with the company's view as to require for disclosure of proposed or real discontinuance, and which they agree that the company's disclosures are suitable for.

Typical process would involve:

(i) Determine the client's policies and process in respect of discontinuing operations

(ii) Review board minutes and another relevant management documentation

(iii) Make enquiries of management in important disposals of investments and assets

(iv) Examine after date information

(v) Confirm the makeup of discontinuing operations through reference to supporting such documentation.

Posted Date: 1/28/2013 1:49:17 AM | Location : United States







Related Discussions:- Audit approach - audit of accounting estimates, Assignment Help, Ask Question on Audit approach - audit of accounting estimates, Get Answer, Expert's Help, Audit approach - audit of accounting estimates Discussions

Write discussion on Audit approach - audit of accounting estimates
Your posts are moderated
Related Questions
Permanent Audit File The permanent audit file might include, inter alia: a) A copy of the enterprise's statutes and other legal or statutory documents governing the enterpri

Advantages and disadvantages

Q. What is Withholding Allowance? Withholding Allowance -Every taxpayer is allowed to claim a withholding allowance, which exempts a certain amount of wages from being subject


Question: Part A (i) Describe audit sampling. Why do auditors sample instead of examining every transaction? (ii) List the four factors that enter into the sample size

Q. What do you understand by Yellow Book? Yellow Book - Written by GENERAL ACCOUNTABILITY OFFICE, yellow book sets forth standards to be followed in auditing FINANCIAL STATEMEN

Assessment item 2 Case Study and Report Due date: 19-08-2016 Length: 2000 words Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-t

QUESTION: (a) The auditor should get relevant and reliable audit evidence sufficient to enable him to draw reasonable conclusions therefrom: (i) What do you understand by


? Decide what areas of the company will be audited and the frequency of the audits. Prepare a yearly audit schedule and distribute. ? Make an audit plan. Decide what other audit r