These objectives focus on how PPE information is shown in the financial statements and notes to the accounts.
The auditor should check whether the company has properly disclosed:
- The cost or valuation of PPE
- Depreciation methods
- Useful lives or depreciation rates
- Accumulated depreciation
- Additions and disposals during the year
- Assets pledged as security for loans
- Relevant lease arrangements
- Accounting policies relating to PPE
The disclosure must also be clear, properly classified and supported by accurate figures.
Tiada ulasan:
Catat Ulasan