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
Financial Statements Rely All Financial providers people must be sure that the financial statements can be relied upon. It should be noted that: 1. The auditor himself must be

Documentation of Representations by Management The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of or


Qualities for Final Accounts The qualities needed of the final accounts: the final accounts must possess specified qualities and these are: a) Utilize of acceptable account

Examples of Liabilities Examples of those liabilities are: a) Claims by employees for injury at work such should be covered through workman's compensation; b) Claims thr

Checking consolidation papers The auditor pays particular attention to the calculation of: Goodwill arising on acquisition and consolidation Pre-acquisition and post-

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

Assessment Criteria Sheets Risk analysis report Subject Learning Outcome: To examine techniques used by auditors, including risk analysis, evidence collection and evaluation Below

RELEVANCE OF IAS / IFRS TO AUDITING The auditors should involve in their report that their view on whether the financial statements they report are true and fair view. It is comm

Will I be able to download immediately once I purchase this assignment?