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Audit risk of revaluing land and building

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit risk of revaluing land and building

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Ken Garrett.
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • July 5, 2018 at 11:59 am #461028
    humai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    Sir

    If there is an audit risk that : Company has a policy of revaluing land and building / Company has a policy of revaluing its L&B and these valuations have been updated during the year

    For its explanation can we say that : There is risk that land and building may be overvalued or undervalued in financial statement

    For its response can we say that : Hire the service of an expert to ensure that assets are properly valued as per IAS 16

    July 5, 2018 at 4:21 pm #461048
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10601
    • ☆☆☆☆☆

    We don’t mark answers.

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Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘Audit risk of revaluing land and building’ is closed to new replies.

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