In the money changing and payment services provider, the completeness in FX gain is always a challenge to auditor.
We have to rely on corroborative evidence such as statements from agents for remittance and reasonableness test on FX gain.
Also, the MAS reporting is limited assurance work.
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