Audit procedures for valuation of JLC Brand (brand was puchased)
- Obtain purchase documentation and agree the cost of the brand ( is writing this much sufficient or do we need to write more, like "for accuracy" in the end)?
- Perform independent impairment reviews and compare with management's impairment review results ( same question, is this sufficient for exam answers to gain 1 marks, or should I write "for accuracy or reasonableness" in the end?)
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Audit Procedures
5y ago#1For a whole mark you need a bit more - so yes, for what purpose - see published answers for examples. But what is "purchase documentation"? If you mean invoice - then say invoice.
The second on is from published answers, mostly they do not write in full. Just state "Agree amount paid to cash book and bank statement". Is this fine?
5y ago#3Please refer to the relevant article https://www.accaglobal.com/ie/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/exam-tech4.html - I suggest that what you suggest is worth only 1/2 mark
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