Company’s directors always misunderstood that audit is more important than proper accounting. Auditor will fix everything for the Company during audit.
A good and proper accounting to help company in efficient and effective management. Audit cannot help the company in management. An audit is to reflect the accounting is proper. It is not the audit to make the accounting proper.
When there was a judgement made in prior year without concrete evidence of support. The audit should have qualified it. When in subsequent year, the judgement is changes with the intention to correct
Under US GAAP, the carrying amount of the assets is compared to the undiscounted future cash flow of the assets generated. If the amount of undiscounted cash flow is highr than carrying amount, no im
When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe