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Motor Vehicles - Audit Process
Similar considerations govern the audit of motor vehicles as to those relating to machinery and plant. The simply matter of consideration now is ownership and existence. Motor vehicles to be mobile may not be obtainable for the auditor to physically check whenever he pays his visit. Concerned evidence can suffice to prove existence for example however we own the motor vehicle we expect that whether it is being required it will incur costs like as insurance, fuel, maintenance and repairs. The chassis and engine numbers may be checked against the log book to make sure which it is the same vehicle such we are looking on as clients have been recognized to change the registration number plates from a vehicle to another.
Beneficial Ownership
Make sure that the log book is in your client's identification.
Banks The Authoritative documents are: The Central Bank of Kenya Act, The Companies Act Cap 486. IAS 30 Disclosure in the Financial statements of Banks and Similar
Suppose soyola cooking oil company takes over ZamGold cooking oil for an amount in excess of the value $500,000. A) What intangible assert will Soya create in its books which the a
The Department of Higher Education (DoHE) in the Ministry of Education awarded a contract for support of 60 computers to My IT Co. Ltd. and the contract conditions required the del
should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge
General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods
Judgmental Sampling The Judgement sampling is where, auditor using his own experience and awareness of the client's business and situations selects the sample to be tested with
In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps
please verify txns
Hi Dear, Could you please help me with online exam in Auditing Class !!
The first work you do in IDEA IS SECTION 2.5. The accounts receivable folder that you are instructed to select on page 25 is a folder that you are to create previously on page 23.
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