Contingencies and provisions, Auditing

Contingencies and Provisions

(i) Receive the client's schedule of provisions and seek and contingencies supporting documentation in the form of legal opinions, correspondence along with customers, environmental and technical reports.

(ii) Assess the basis of provisions for reasonableness and compliance along with IAS 37

(iii) Certify that correct calculations have been created

(iv) Physically inspect any sites in respect of that clean up restoration provisions have been created.

(v) Consider the requirement for expert technical assistance

(vi) Assess the requirement for further similar provisions

Posted Date: 1/28/2013 1:18:37 AM | Location : United States







Related Discussions:- Contingencies and provisions, Assignment Help, Ask Question on Contingencies and provisions, Get Answer, Expert's Help, Contingencies and provisions Discussions

Write discussion on Contingencies and provisions
Your posts are moderated
Related Questions
Ask quesThe 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 Co

Question: "The planning, testing, and evaluation of audit evidence for indicia of fraud are unlikely to be successful without that attitude, particularly because fraud is a cri

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

In planning the audit work of the Ministry, the audit staff member collected these details relating to the construction of an office complex. 1. In September 1994, the Ministry

People do not plan to fail, they fail to plan. Planning is an essential feature of an effective audit. The most effective plan is one that is reduced to writing, outlining the au

Suppose soyola cooking oil company takes over ZamGold cooking oil for an amount in excess of the value $500,000. A) What intangible assert will Soya create in its books which the a

What document usually forms the basis of the audit team briefing?

Conducting a critical review of published literature about a topic is fundamental step in developing your research skills. A first step towards a review of the literature is to sea

Necessity of Transactions with Related Parties Transactions along with related parties are essential for several reasons: (a) Several financial scandals including related p

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