Goodwill and fair value, Auditing

Goodwill and Fair Value

The main points the auditor needs to verify for any goodwill arising in the accounting period are as follows:

(i) Examine the procedure used to find out the fair price of the consideration provides to purchase the shares of the subsidiary and the fair price of the net assets in the subsidiary on the date of acquisition.  The rare verification procedures must be used, rather the auditor should consider the requirement for an expert valuation.

(ii) The accounting treatment of the goodwill at one it has been quantified requires to be ensure it is being accounted for incompliance along with IFRS 3

(iii) A check is required which the detailed disclosure requirements of IFRS 3 are complied along with.

Posted Date: 1/25/2013 2:31:37 AM | Location : United States







Related Discussions:- Goodwill and fair value, Assignment Help, Ask Question on Goodwill and fair value, Get Answer, Expert's Help, Goodwill and fair value Discussions

Write discussion on Goodwill and fair value
Your posts are moderated
Related Questions
Non-Adjusting Events - Audit Process Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price o



Why is studying Auditing different from studying other accounting topics?

Communications to Regulatory and Enforcement Authorities The auditor’s professional responsibility to sustain the confidentiality of client information ordinarily prevents repo


Co-operative Societies An audit in this case is carried out as a normal audit except you should note that the auditor is appointed by the Commissioner of Co-operatives and alth

Non-Attendance at Stock Takes Whether the auditor is unable to attend a stock take, since he has numerous clients along with the same accounting date, or stock is situate at r


Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH), after noting that there is a proposal to limit Auditor liability is very excited and has announced that th