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In previous times, the Kings used to hear their accountants narrate the accounts verbally. Though, as the complexity of the accounting function grew, require was felt to thoroughly check the accounts for mistakes misclassification and document the findings in a written form so that it can be used by the Management, stakeholders, investors, Government and several other bodies. This process is called as Auditing or Audit.
Authoritative Document is IAS 17 Leases The suitable technique of amortization or depreciation to require in the case of leasehold property and freehold buildings is straight-
#quInternal Audit checklist for fixed assetsestion..
How would you value the Goodwill
AsList and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and observation? (iii) What is the dif
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
How do internal auditors add to the credibility of financial statements?
Simple Plans - An employer can adopt a simplified retirement plan known as a SIMPLE Plan (Savings incentive match plan for employees) if it has fewer than 100 employees that receiv
Auditor's Duties - Audit of Current Assets The auditor's duties can be summarized as follows: a) The accounting ascertaining policies adopted through the entity for pri
Negligence in General There is no case against auditors and this made it hard to be accurate as to where the auditor’s legal liability falls. We require therefore referring to
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
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