Week 9 - Non-current Assests Flashcards
(5 cards)
1
Q
What do we audit?
A
Management saying they have land and buildings worth £x
2
Q
What do we consider when we audit?
A
- have they all been identified
- who owns them
- do they exist
- what is their value
- are they non-current assets
3
Q
How would we value them?
A
- Check the condition of the buildings
- look for purchase invoice/bank statement
4
Q
How would we check if they own them?
A
Title deeds
5
Q
A
