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    Intangible Assets: Assertions Audit Objectives Audit Procedures I. Existence/ Occurrence

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    krizzmaaaay
    This document outlines 5 audit objectives for intangible assets with corresponding audit procedures. The objectives are to determine that intangible assets 1) exist and are represented by contractual rights, 2) all transactions have been properly recorded, 3) are owned by the company, 4) are stated at cost less amortization, and 5) presentation and disclosures are adequate. The audit procedures include obtaining an analysis of intangible asset accounts, examining supporting documentation, vouching additions and dispositions, performing analytical procedures, evaluating amortization policies and computations, and evaluating financial statement presentation and disclosure.

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    Intangible Assets: Assertions Audit Objectives Audit Procedures I. Existence/ Occurrence

    Uploaded by

    krizzmaaaay
    225 views1 page
    This document outlines 5 audit objectives for intangible assets with corresponding audit procedures. The objectives are to determine that intangible assets 1) exist and are represented by contractual rights, 2) all transactions have been properly recorded, 3) are owned by the company, 4) are stated at cost less amortization, and 5) presentation and disclosures are adequate. The audit procedures include obtaining an analysis of intangible asset accounts, examining supporting documentation, vouching additions and dispositions, performing analytical procedures, evaluating amortization policies and computations, and evaluating financial statement presentation and disclosure.

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    This document outlines 5 audit objectives for intangible assets with corresponding audit procedures. The objectives are to determine that intangible assets 1) exist and are represented by contractual rights, 2) all transactions have been properly recorded, 3) are owned by the company, 4) are stated at cost less amortization, and 5) presentation and disclosures are adequate. The audit procedures include obtaining an analysis of intangible asset accounts, examining supporting documentation, vouching additions and dispositions, performing analytical procedures, evaluating amortization policies and computations, and evaluating financial statement presentation and disclosure.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    225 views1 page

    Intangible Assets: Assertions Audit Objectives Audit Procedures I. Existence/ Occurrence

    Uploaded by

    krizzmaaaay
    This document outlines 5 audit objectives for intangible assets with corresponding audit procedures. The objectives are to determine that intangible assets 1) exist and are represented by contractual rights, 2) all transactions have been properly recorded, 3) are owned by the company, 4) are stated at cost less amortization, and 5) presentation and disclosures are adequate. The audit procedures include obtaining an analysis of intangible asset accounts, examining supporting documentation, vouching additions and dispositions, performing analytical procedures, evaluating amortization policies and computations, and evaluating financial statement presentation and disclosure.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    INTANGIBLE ASSETS

    Assertions Audit objectives Audit procedures


    i. Existence/ To determine that intangibles Obtain an analysis of ledger accounts for
    occurrence exist and are represented by intangibles
    contractual rights, privileges or
    earning power owned by the Examine documentation supporting
    company. intangibles

    ii. Completeness To determine that all transactions Vouch additions to or acquisitions


    elated to intangibles have been during the year
    properly recorded
    Evaluate dispositions and write offs
    during the year
    iii. Rights and To determine that the intangibles In addition to audit procedure no 2.
    obligations are owned by the company perform analytical procedures

    iv. Valuation and To determine that intangibles are In addition to audit procedure nos 3 & 4,
    allocation stated at cost less amortization evaluate amortization policy and verify
    computation of amortization.
    v. Presentation To determine whether Evaluate financial Statement
    and disclosure presentation and disclosures presentation and disclosure for
    concerning intangibles are intangibles.
    adequate and in accordance with
    PAS/PFRS

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