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

The Use of Engagement Letters There is a contractual relationship among an accountant and his client. The accountant must therefore make sure that at the time he decided to exe

Definition of Auditing According to International Standard on Auditing (ISA) objective and common principles governing an audit of financial statements, the purpose of a financ

General Verification Procedures - Audit Process 1. Get or prepare a schedule for each and every class of liability. Usually this would indicate the makeup of the liability a

Examples of Liabilities Examples of those liabilities are: a) Claims by employees for injury at work such should be covered through workman's compensation; b) Claims thr


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

1. On 5 August 2012, the financial controller informed you that the board has recently received a letter from the assistant general manager, Mr. Tan. The letter contains a confessi

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 has b

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