[Shivanisingh0172]

There was procedures for goodwill calculation on acquisition
Expansion was through two subs. One was planned to happen one month before reporting date.
There was a portion on advertisement and refurbishment cost
Fees paid for consultancy services offered by the previous cfo
New NED
Marketing brand and refurbishment of stores
Loan for refurbishment
Also the revenue and profit projections were 50%+ higher than previous year
Also data analytics- There were claims that couldn’t cross 1500, the ones that did had to be authorised. There was one outlier Someone was making travel claims for 1488 or something
Also materiality was on revenue but because of unusual increase in profit and revenue we should take it as PBT right?
advertising was put as intangible assets
You can make a point on overstated profits and revenue Using analytical procedures

[Author]

Posts