explainthe process of auditing the following transactions/accounts of Real estate companies * Value of inventories * Impairment testing of property and equipment * Value of investment property * Revenue recognition

explainthe process of auditing the following transactions/accounts of Real estate companies * Value of inventories * Impairment testing of property and equipment * Value of investment property * Revenue recognition

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 31CYBK

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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

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explainthe process of auditing the following
transactions/accounts of Real estate companies

* Value of inventories
* Impairment testing of property and equipment
* Value of investment property
* Revenue recognition

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Audit procedures for items of Financial Statement

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