breakup of goodwill — OpenTuition Forums

Aasdasdasd7y ago

if a Group has few subsidiary(which means have many goodwill for different subsidiaries) and then, that group has disposed one of the subsidiary and i have to write audit procedure in such audit procedure, can i say "Breakup of goodwill to confirm goodwill of ABC Ltd (disposed company) is removed "

KimTutor7y ago#1

Since goodwill arises through the process of consolidation and is not a balance that is carried in any books, it is really confirming the exclusion of all assets (including goodwill) and liabilities from the consolidation schedule rather than removal.

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