Disclosure requirements - investment, Auditing

Disclosure Requirements - Investment

In common terms, the following items have to be disclosed in the concern to all investments:

(a) The accounting policies about:-

  1. Verifying of carrying amount of investments
  2. The treatment of changes in market price of recent investments carried at market price
  3. The treatment of a revaluation surplus on the sale of a revalued investment

(b) The significant amounts involved in income about:-

  1. Dividends royalties, interest and rentals on long term and recent investments
  2. Losses or profits on disposals of current investments
  3.  Changes in value of which investments

(c) The market price of marketable investments whether they are not carried at market price

(d) The fair price of investment properties whether they are accounted for as long term investments and no carried at fair price

(e) Significant restrictions on the feasibility of income and proceeds of disposal of investments or the remittance

(f) For long term investments stated on revalued amounts

  1. The policy in favor of the frequency of revaluations
  2. The date about the latest revaluation
  3. The basis about revaluation and where an external value was included

(g) The movements for the time in revaluation surplus and the nature of as movements

(h) For enterprises whose main business is the holding about investments analysis of the portfolio of Investments.

Posted Date: 1/25/2013 2:37:52 AM | Location : United States

Related Discussions:- Disclosure requirements - investment, Assignment Help, Ask Question on Disclosure requirements - investment, Get Answer, Expert's Help, Disclosure requirements - investment Discussions

Write discussion on Disclosure requirements - investment
Your posts are moderated
Related Questions
As per the standard audit engagement letter signed between external financial statement auditor and client/ auditee, auditor's primary role is to detect fraud. Ans: No, the prim

Systems Based audit approach The basis of IAS 400, Risk Assessment and Internal Control. The term systems audit refers to the typical audit approach to medium and large comp

Problem: (a) Your client has sought your advise on the procedures to be adopted for carrying out the stocktaking which is based on a year-end count. You are required to prepa

Auditors Responsibilities with regard to related parties ISA 550 Related Parties states which the auditor should perform audit process designed to find sufficient suitable

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

Audit of Holding Companies and Group Accounts Authoritative documents are as: The Companies Act Cap 486 IAS 27 IAS 28 IAS 31 IFRS 3 ISA 600 r

what a group auditing and holding campanies in details with exmple propurly???

what a group auditing and holding campanies in details with exmple propurly

Fortex Limited, the meat processing firm, was formed in 1985 from three smaller companies. In 1993, however, after a few years of spectacular growth, the company collapsed. a)

Simple Trust - This type of TRUST is essential to distribute all its income currently, whether or not the TRUSTEE actually does so and it has no provision in trust instrument for c