Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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, 'impairment' has occurred whereas recoverable amount has fallen under the asset's carrying value. The recoverable amount is higher of total seems value and value in need economic value.
The stages of the audit in this area could be:
1. Confirm where the enterprise has carried out other impairment checks and review the authority of the conclusions reached as to further whether analysis of impairment was essential.
2. Whether the client has concluded which no extra work is required and the auditor concurs, further no more audit work is needed. Conversely the audit disagrees and considers which the value of some assets has been impaired, then it is required to argue the matter along with management. Whether no further action is taken through management means it may be compulsory to question a modified audit report providing a qualified opinion based on the disagreement along with detailing and management the reason of the disagreement. Obviously, in majority of cases extra action will be taken through management and a customized report will not be required whether the auditor is satisfied along with such further action.
3. Whether the client has concluded such impairment checks are required, the auditor will review the stages of the impairment verify, paying specific attention to:
IAS 27 - Audit Process IAS 27 applies to the presentation and preparation of consolidated financial statements for a group of entities within the control of a parent. It as w
Limitation of Audit Evidence The quantity and quality of evidence is constrained through the following factors as: Absolute proof is not possible; Some assert
could I post my orginal question?
IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a
Audit points - Audit Process Key audit points are as 1. Internal control particularly along with regard to computerisation and internal audit. 2. Provision for doubtful
Method of corrercting evidence?
Using the 30 September 2011 trial balance (appendix to this case study) calculate planning materiality and include the justification for the basis that you have used for your calcu
Wal-Mart Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions: 1. With respect to the report of the external auditors to "the Board of Directo
how to audit discontinued operation
Ask qub) How might financial incentives in the form of client services unconsciously introduce auditor bias into the independent audit function? Give some specific real-life exampl
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd