Non-adjusting events - audit process, Auditing

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 of investments among the balance sheet date and the date whenever the financial statements are authorized for matter.

For all material classes of non adjusting event after the balance sheet date, and an estimate of its financial effect and an entity discloses the nature of the event.

Dividends declared than the balance sheet dates are not known as a duty at the balance sheet date.

Financial statements are not prepared on a going to relate basis whether arrangement determines after the balance sheet date either such it intends to liquidate the entity or to cease trading, or such it has no realistic alternative however to do so.

The financial statements disclose the date whenever the financial statements were authorized for matter, and who provided that authorization.

Posted Date: 1/28/2013 2:15:23 AM | Location : United States







Related Discussions:- Non-adjusting events - audit process, Assignment Help, Ask Question on Non-adjusting events - audit process, Get Answer, Expert's Help, Non-adjusting events - audit process Discussions

Write discussion on Non-adjusting events - audit process
Your posts are moderated
Related Questions
What are the are the advantages and disadvantages of auditing an IT firm

Disclosures about Inventories - IAS 2 IAS 2 specifies disclosures about inventories. In a large manufacturing company, no article in the balance sheet appears verification

Preferred stock valuation 1. Features of preferred stock (You may review what you've learned about preferred stock from TCA 221): a. Multiple classes in terms of convertibil

You are auditing XYZ company for the year ended 12/31/2012 and will be expressing an opinion on their financial statements as of that date. You completed your field work on 1/21/13

Detail work on stocks - Audit of Current Assets Detail work on stocks is imperative in an audit, since there are other review tests that are equally important and these includ


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


Discovery of unlawful acts When an auditor discovers unlawful acts, usually he is not expected to disclose to the police or other authorities unless: The client authorise

project report on absorption of overhead and its different method