Is this a correct procedure for completeness of non current liabilities?
I will perform analytical procedures by obtaining the previous years NCL listing and compare it against the current years NCL listing. I will then tick off items appearing in both years listing. For any items remaining in the previous years NCL listing I will obtain an explanation for non inclusion. If its because they were paid out then their is no problem, but if not paid out I will request mgmt. to include this NCL in their listing.
Ask the Tutor ACCA AA
Audit procedures for NCL
12y ago#1Non-current liabilities = long-term loans. I don't think that there will be a big list to tick off.
Certainly, compare to last year and follow up items that have gone.
Inspect bank certificates
Inspect loan agreements
Inspect board minutes
Ask for letter of representation
Sign into reply to this topic.