Audit function, Auditing

Audit Function

The audit functions as follows as:

1. To verify the estimation of timing differences;

2. To ensure such permanent differences have not been got into account;

3. Verify the director's view of the extent of the provision needs by:

a) Make Suring that the company is a going concern

b) Examining the evidence upon that the directors have based their assumption and such no timing difference has been reversed

4. Ensure that presentation in the accounts is in accordance along with KAS 10, is unambiguous and comprehensive and.

Stage is a routine subject and the auditors always examine where the company is a going concern, since many valuations bases would change whether the company were not a going concern.  So we can still examine the difficulties associated along with the reliability of evidence in support of decreases in the provision for deferred taxation.

Posted Date: 1/28/2013 12:57:57 AM | Location : United States







Related Discussions:- Audit function, Assignment Help, Ask Question on Audit function, Get Answer, Expert's Help, Audit function Discussions

Write discussion on Audit function
Your posts are moderated
Related Questions
Deposits and Share - Building Society Shares may make of subscription shares and paid up shares. Interest on shares might be credited to ensure specific control to the account

Your firm has recently been appointed auditors of the Social Transport Corporation and you are commencing the audit of the wages system. The Corporation has about 2500 employee

AsList and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and observation? (iii) What is the dif

concept,need,advantage

Liability to third parties For long time liability to third parties existed only in respect to physical damage. Liability for financial loss is a current development.  Illustra

Objectivity - External Auditor Report Many accounting figures are subjective and contain substantial terms of subjective judgment.  Many more business transactions have financ

Brand Names - Audit Process Few companies in current years have placed valuations on the brand names of the goods such they sell.  On the balance sheet the valuation is shown.

What are the strength of Stock transfer note

(a) State the FIVE threats contained within Auditor's Code of Ethics and Conduct and for each threat list ONE example of a circumstance that may create the threat. (b) You a

Going Concern Considerations - Audit Process IAS 1 Presentation of Financial Statements knows the going related assumption as one of the fundamental assumptions that underlie