Dear All,
Please guide me on below mentioned
1: If a group would not consolidate its account and use its group companies to hide its loses.
( Fradulant Presentation of Financial Statement )
Where it should be reported and how.specialy in focus of UAE.
1: If a chartered accountant firm voilating professional and ethical code of conduct and supporting to produce Fradulant Financial Statement.
Where it should be reported and how.specialy in focus of UAE.
I shall be obliged for quick and comprehencive guidance.
Ahmad

Greating Dear sir

Can we measure or assured the quality of audit?

With regard

kalehiwot

Dear All
Kindly feed me back regarding the reversal of any previuos writedown
that had been made in a previuos period. Is it possible to reverse a
wirte down for inventory made in 2007 to be reversed in 2008
Noting that I couldn’t reach any specific paragraph in the standards
relatated to this issue.
and how this could be made via entries.
But I think if it is possible to reverse wirtdown made in 2007 to be
reversed in 2008, it may distort results over accounting periods.
Thanks in advance for your prompt reply.

Hesham,
The writedown to inventory in 2007 …

Dear Collegues,Really appriciate if anybody could share me the Hotel Internal Audit
Procedure and plan, stretegy (Hospitality). or any website link, PDF,
presentation file.Thanks in advance

Dear all,
I have a question in relation to acquisition accounting in accordance with
IFRS3. In this case a parent company A acquires all the shares in
subsidiary company B for (say) 50M. This cost price represents a goodwill
over the fair value of the assets and libailities assumed of 15M. Where
should I record the 15M goodwill? Is this in the subsidiary company B or
in parent company A?

Based on IAS21, p. 47, I would say in the sub.
All the best, Farah

L’adresse e-mail de votre correspondant a changé. Elle devient:  firstname.familyname@gdfsuez.com
Thank you for updating your …

Dear All
 
Can any body tell me that is budget only for expenses or can be for Asset, liabilities and income also. My openion is it can be for all (Asset, liability, Expense and income). Please help me according to the IAS/IFRS.
–
Best regards
Mohammad

Dear Mohammed :-
 
Budget can be to revenue& expenses but when we put assets & liabilities we can called it Feasibility study to project we make this in starting of any activity .
 
Best Regards
Aly

Budgets are prepared both for revenue and capital expenditure. Revenue Budget gives you the financial progress of the company …

Dear all,
during an interview I was asked this question and I am still in doubt about the reply.
If you need to audit an entity which is going to change from a cash basis to an accrual basis accounting system, what would you audit first and why?
Thanks for your replies.

Fabiola

 
Dear Fabiola
 
First thing I would audit the statement for the period end under review containing the dues not receivable for the servcies or sales already done during the year and likewise, payment received from clients in advance for the sales or services …

Dear all,

Can you share me the international auditing standard document. Thanks

Danella,I double checked after the comment below, and I agree with Hemant. IAS 21.28 explicitly states that gains/losses on forex should be recognized in P&L. The forex is not attributable to the asset but to the financial liability.http://www.ifac.org/Store/Category.tmpl?Category=Auditing%2C%20Assurance%20%26%20Related%20Services

Hi, Members.
 
In regard to the above subject please help me to answer the following question.
 
One of the four categories of financial assets as classified in IAS 39, Financial Instruments: Recognition and Measurement is subject to “tainting rule”. Identify the category and explain what is tainting rule.
 
Thanks and Regards.
 

Kibona

Hi,

Tainting Rule means:
Where an entity sells or transfers more than an ‘insignificant amount’ of its held-to-maturity investments it must reclassify all of them as available-for-sale. It is then prohibited from classifying any assets as held-to-maturity for the next two full annual financial periods, …

Dear All , Kindly need your urgent help
We Have more than 10 companies in different countries and using different currencies :
1- our holding company send us every month end the conversion rate that we should use for each currency in order to be able to consolidate in 1 reporting currency.
2- Every month we report the PL ( Year to Date figures ) , and the balance with other schedules …
MY Question is : We should use the average rate of the PL and month end rate for Balance …