breakup of goodwill

This topic has 1 reply, 2 voices, and was last updated 7 years ago by Kim Smith.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
May 19, 2019 at 2:33 pm #516432
foeldh123
Participant
- Topics: 168
- Replies: 76
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 ”
May 20, 2019 at 7:37 am #516511
Kim Smith
Keymaster
- Topics: 138
- Replies: 8475
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.
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.