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