Audit procedures for non-current assets (7)

Question 1

Goodwill (sales agreement)

Answer 1

Agree the consideration to sales agreement by inspection

Question 2

Goodwill (valuation)

Answer 2

Consider whether asset valuation is reasonable

Question 3

Goodwill (recalculation)

Answer 3

Agree that calculation is correct by recalculation

Question 4

Goodwill (impairment review)

Answer 4

Review impairment review and discuss with manageemnt

Question 5

Goodwill (valuation of goodwill)

Answer 5

Ensure valuation of goodwill is reasonable / there has been no impairment not adjusted through discussion with management

Question 6

Other intangibles (purchased intangibles)

Answer 6

Agree purchased intangibles to purchase documentation agreement by inspection

Question 7

Other intangibles (specialist valuation)

Answer 7

Inspect specialist valuation of intangibles and ensure it is reasonable

Question 8

Other intangibles (amortisation calculation)

Answer 8

Review amortisation calculations and ensure they are correct by recalculation