Completeness of liabilities, Auditing

Completeness of Liabilities

In distortion, the directors tend to involve non-existent assets or keep out liabilities. Hence whereas along with assets we are especially concerned along with existence, beneficial and valuation ownership, along with liabilities, the main concern is along with completeness and hence the use to devote some space to this area. It is not sufficient to be satisfied such all liabilities recorded in the books are accurate and incorporated in the final accounts. The auditor must be satisfied also when there are no other liabilities in existence that for one cause or another are not involved in the books in the accounts.

Posted Date: 1/28/2013 12:43:11 AM | Location : United States







Related Discussions:- Completeness of liabilities, Assignment Help, Ask Question on Completeness of liabilities, Get Answer, Expert's Help, Completeness of liabilities Discussions

Write discussion on Completeness of liabilities
Your posts are moderated
Related Questions
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

the availability of audit evidence is necessary but not sufficient condition for absolute reliance on the figure presented for audit

Questionable Payments In some countries, business is often gained by bribing ministers or public officials or officers of companies or firms with whom one wishes to do business

What is an external auditor's responsibility in regard to finding fraud?

Documentation of Representations by Management The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of or

Simple Plans - An employer can adopt a simplified retirement plan known as a SIMPLE Plan (Savings incentive match plan for employees) if it has fewer than 100 employees that receiv

Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth.  Accounting does without a deal along w


describe possible factors in the auditor-client relationship that can make it more difficult for the auditor to detect fruad

IFRS 5 Non-Current Assets IFRS 5 Non-Current Assets Held for Discontinued and Sale Operations The Discontinuing Operation is a component of an enterprise: (a)  Such the