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A. Depreciation charges are insufficientB. Policy of sale or disposal of fixed assets needs to be reviewedC. The sale of assets have not been properly authorizedD. Accounting errors
B)
B
Scorer auditor examination of fixed assets
1. Verification of the adequacy of your fixed assets system of internal control .2 verify the existence and ownership of fixed assets.3. Validation of fixed assets calendar .4- verify the adequacy of depreciation for fixed assets.5. Verification of gains and losses on sale of fixed assets.6. show assets in a fair way in the budget and consumption show a fair way in the income statement.
Fixed Assets:
1. Verification of a periodic inventory of items of fixed assets and the selection and review of a random sample actually on the ground to ensure the health of the inventory and the extent of its conformity to reality to ascertain the existence of such assets.
2. Verification of the stability of depreciation rates and calculated.
3. Verification of the proper use of the fixed assets of the intended purposes
4. obtain analytical summary shows the changes during the financial period in the examination of fixed assets replaced.
5. examination of systematic exclusions made during the review period and the safety of exclusions replace accounting.
6. Prepare a statement of fixed assets untapped.
7. Check for insurance of fixed assets and study duration and validity and terms of contracts.
8. found on some bills purchase of fixed assets during the year and the extent of adherence to the rules of procurement and regulatory approvals them according to the regulations of the company and the extent of the health of the entry and exit from the warehouse to prove those assets and depreciation rates that Baansabha been recommending over the useful life of the asset.
9. selecting a random sample of fixed assets program on the computer and perform tests on the validity of the statement recorded in accordance with the records of each type and the accuracy of calculation of depreciation rates during the examination period and replace tab.
10-access to the opening balances of fixed assets and the extent of deportation accuracy according to financial records and financial statements and the extent of regularity in proving assets during the period classified according to replace the examination.
11. Review movable fixed assets additions of projects under implementation and the extent of deportation effective date of the operation of the accuracy of the statement after a delay in the transfer of fixed assets to show the results of the activity without calculating depreciation rates according to the actual operating schedules.
12. In the event of revalued assets annually are found on evaluation reports, taking into account the reasonableness of the evaluation and the bases used.
13. If there is dedicated assets are checked for the presence of those assets and provable and processed proper treatment.
14. Review the extent of matching fixed assets purchased during the period under examination with the approved budget estimates.
15. Analysis of some elements of costs charged on fixed assets to ascertain the validity of the calculated that asset.
16. study assessing the internal control system of fixed assets
A. depreciation charges are insufficient
B
B,,,,,,,,,,,,,,,,,,,,,,,,,,,,
B. Policy of sale or disposal of fixed assets needs to be reviewed
Agree with Mr. Roy D
Ans: (B)
