Subsequent events - audit process, Auditing

Subsequent Events - Audit Process

IAS 10 Events after the Balance Sheet Date prescribes the accounting for, and disclosure of, events than the balance sheet date.

Events than the balance sheet date are those events such happen occur between the balance sheet date and the date whenever the financial statements are authorized for matter.

Events after the Balance Sheet Date might be categorized as:

  1. Adjusting events and
  2. Non-adjusting events.

An entity adjusts the amounts that are recognised in the financial statements to reflect adjusting events than the balance sheet date.

Posted Date: 1/28/2013 2:13:12 AM | Location : United States







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

Write discussion on Subsequent events - audit process
Your posts are moderated
Related Questions
Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.

IAS 36 Impairment of Assets It is very necessary for the auditor to determine the client's method for determining and accounting for impairments.  Corresponding IAS 36, 'impai

Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth.  Accounting does without a deal along w

In performing a test of controls for sales order approvals, the CPAs stipulate a tolerable deviation rate of 8 percent with a risk of assessing control risk too low of 5 percent. T

Required: Describe a complete audit program for collecting relevant evidence for the audit of the estimated warranty liability. Approach: Develop specific assertions related to

Problem: (a) Your client has sought your advise on the procedures to be adopted for carrying out the stocktaking which is based on a year-end count. You are required to prepa

Assets held for Sale - Audit Process A non-current asset or disposal collection is classified as held for sale whether its carrying amount will be recovered principally via a

Please present an analysis of the attached case. Your analysis should be in the form of a memo not to exceed four pages plus appropriate exhibits. The memo should present your

You have been assigned to carry out a stock take in a company. Your Audit Supervisor has given you with an audit programme. As part of a briefing session to your juniors, you a

Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit