Related parties - audit evidence, Auditing

Related Parties - Audit Evidence

IAS 24 prescribes the disclosures essential to the possibility to draw attention which the financial position and loss or profit of an entity may have been affected through the existence of related parties and through outstanding transactions balances along with such parties.

Definitions of concerned party and related party transactions from IAS 24, "Related Party Disclosures" are follows that:

Related parties are thought about to be related whether one party has the capability to control the other party or exercise significant influence above the other party in creation operating and financial decisions.

Posted Date: 1/24/2013 7:55:32 AM | Location : United States







Related Discussions:- Related parties - audit evidence, Assignment Help, Ask Question on Related parties - audit evidence, Get Answer, Expert's Help, Related parties - audit evidence Discussions

Write discussion on Related parties - audit evidence
Your posts are moderated
Related Questions
postage stamps 220 currency and coins 1156.60 how much petty cash fund shall be shown as part of cash balance

Step 1: Determine learning objectives. Considering the importance of a course, its placement in a program of study, and its role in providing a base of knowledge to be built upon

What is an audit, what financial records are available and what is their individual function in completing your audit? Audit is an independent examination of financial informat

Techniques of obtaining evidence ISA 500 mentions them as: (a) Inspection of records or documents, (b) Inspection of tangible assets, (c) Observation, (d) Inquiry, (e) C

Contents of Working Papers - Audit The ISA 230 No.3 stresses which audit working papers may always be adequately complete and detailed to enable an experienced auditor along w


The International Auditing and Assurance Standards Board The IAASB is a Board familiar by IFAC. The associates of the IAASB are selected by the IFAC Board to serve on IAASB. IA

Audit Procedures -Research and Development The auditor should ensure that: a) Any costs incurred in the buy of fixed assets in order to give facilities for development and

Valuation and Allocation - Audit Process As we saw assets are usually valued at cost or a valuation less a provision for usage or loss of value.  We have to ensure therefore t

Objectivity - External Auditor Report Many accounting figures are subjective and contain substantial terms of subjective judgment.  Many more business transactions have financ