Generic Procedures

Question 2

Procedures

Answer 2

1. Analytically reveiw revenue/assets/ profit by segment and discuss unexpected resultsw. mgmt
2. Discuss estimation methods& assumptions to ascertain reasonablness
3. Obtain written representation that all information known has been provided to auditors
4. Agree number to mgmt accounts
5. Obtain board minutes and review
6. Cast e.g interim FS to verify mathematical accuracy.
7. Review FS treatment and dsiclosure to ensure c consistent with up to date info on case.
8. If probable- recognise, contingent- disclose.