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Hi Sir Mike,
I was just wondering why this would be one of the audit procedures regarding audit client’s purchased brand:
– Review the level of planned expenditure on marketing and advertising to support the brand name and consider it’s adequacy to maintain the image of the brand.
Why would this be necessary as part of the audit procedure?
Hope to hearfrom you soon.
Best regards,
Kyle“Why would this be necessary as part of the audit procedure?”
To confirm that money is being spent and is being planned to be spent to maintain the value. Otherwise it’s value in use (present values of future cash flows associated with the brand could be overstated and then we would need to consider the comparison between carrying value and net realisable value
OK?
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