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Sir there was a past exam question “Andromeda” which asked that describe substantive procedures in relation to research and development cost. (4 marks) Sir are the following substantive procedures for research and development cost correct?
1) Ensure valuation of intangible is reasonable through discussion with management
2) Recalculate amortization calculation
3) Inspect specialist valuation of intangibles for reasonableness
4) Inspect budgets to confirm financial feasibility
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