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
Q. Which of the following statements is not considered a disadvantage of the corporate form of organization? a. Additional taxes b. Government regulations c. Limited liability of s

Experts as a source of Audit Evidence Mostly the auditor's work on evidence obtained from along within the entity supported through confirmations from third parties will provi

Cost and Authorization - Detailed audit of stock Cost A favor of the auditor this is restricted generally to determining the technique adopted through the organization

Attempts at definition of the 'true and fair' view There following quotations represent authoritative views on the meaning of true and fair view. A true and fair view impli

(a) Define each of the following four concepts. -Master Data Management -Data Quality -Data Governance -Cloud Computing Explain how they relate to the various Busine

Checking Consolidation Papers The auditor pays particular concentration to the calculation of: a) Goodwill arising on consolidation and acquisition b) Post-acquisition a


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

Describe your role in managing a discrete assignmentn..

#what are the procedures of conducting audit for the first time#