The COVID-19 and circuit breaker in Singapore is a subsequent event for company with financial year ended 31 Dec 2019, or a mixture of event and subsequent event for company with year ended 31 Mar 2020.
The management of the company will need to assess the impact to the company in 2020. An appropriate disclosure note is recommended to the financial statements.
The auditor should make a professional judgement on the impact to his opinion.
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
In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail
In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio