Motor vehicles - audit process, Auditing

Motor Vehicles - Audit Process

Similar considerations govern the audit of motor vehicles as to those relating to machinery and plant.  The simply matter of consideration now is ownership and existence.  Motor vehicles to be mobile may not be obtainable for the auditor to physically check whenever he pays his visit.  Concerned evidence can suffice to prove existence for example however we own the motor vehicle we expect that whether it is being required it will incur costs like as insurance, fuel, maintenance and repairs. The chassis and engine numbers may be checked against the log book to make sure which it is the same vehicle such we are looking on as clients have been recognized to change the registration number plates from a vehicle to another.

Beneficial Ownership

Make sure that the log book is in your client's identification.

Posted Date: 1/25/2013 2:03:36 AM | Location : United States







Related Discussions:- Motor vehicles - audit process, Assignment Help, Ask Question on Motor vehicles - audit process, Get Answer, Expert's Help, Motor vehicles - audit process Discussions

Write discussion on Motor vehicles - audit process
Your posts are moderated
Related Questions
An internal audit is one which is conduct by the internal auditors of the company. It is not mandatory for the company and the company just conducts it to keep a check on the opera

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 accou

Communication with Expert Whether the auditor intends to utilize the work of an expert then he must communicate along with the expert well in advance to confirm the terms of e

Auditor Further point to note is which modern companies can be exclusively large along with multi-national activities.  So preparing accounts for that a group becomes a widely

Fraud and Error ISA 240: the Auditor’s duty to Consider Fraud and Error defines that whenever planning and performing audit procedures, computing and reporting outcomes thereby


I have some questions in ACL PROGRAME . IF YOU CAN HELP ME

Existence - Detailed Audit of Stock In the previous the auditor accepted a director's certificate as to the existence of stocks.  Until some cases specifically in the United S

list four assertions that relate to account balances

Responsibilities of the Auditor The Auditor has no duty for the prevention and recognition of fraud and error though the annual audit might act as a restraint. As explained