Reserves - audit process, Auditing

Reserves - Audit Process

Movements in reserves need disclosure in the balance sheet, the loss and profit account, the director's reports or in the notices to the accounts. The auditors must certify proper authorization has been provided for these movements and they must vouch the recording of this movement. The auditors must certify that material amounts of reserves are categorisation under suitable headings. The capital redemption reserve fund and the share premium account need separate recognition and the aggregate amount should be shown also. Provisions must be reviewed to certify that they did not contain secret reserves.

Posted Date: 1/28/2013 1:03:40 AM | Location : United States







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

Write discussion on Reserves - audit process
Your posts are moderated
Related Questions
Statutory Audit is a mandatory audit done by a CA. Finance Audit is conducted by the CA to compliance the legal supplies of monitory issues. If the audit for a business or an orga

Valuation and Income - Verification Procedures Valuation Valuation of listed securities is easily conformed along with suitable financial publications. Directors' valua

Seek Out Transactions with Related Parties  Within the course of the audit, the auditor carries out process that may identify the existence of transactions along with related

the features of statistical sampling


Provision and Accruals Previous to we consider the audit procedures along with regard to accruals and provisions, it is essential to clarify the meaning of two words in genera

Reliability - Sources of evidence Reliability of audit evidence is influenced through its nature and its source and since it is dependent upon the specific circumstances, we c

Cash and Window Dressing - Building Society Cash Possibility of misappropriation and error usually accompany the handling of cash. Building societies transactions towards

I have a auditing case study i need to complete in chapter 8 of Auditing & Assurance service (fifteenth edition) by Alvin A. Arens, Randal J. Elder and Mark S. Beasley. I don''t kn

What is an external auditor's responsibility in regard to finding fraud?