|
|
Name
of client: |
Prepared
by: |
File
ref: |
|
|
|
|
|
|
|
Year end: |
Reviewed by: |
|
|
|
|
|
|
|
|
Subject: Existence & Ownership |
|
|
|
|
|
|
|
|
|
Objective |
To ensure that assets recorded in the accounts exist. |
|
|
|
|
|
|
|
|
Method |
Obtain/prepare a fixed asset register Select a sample of additions and agree to supporting invoices Physically verify the assets and ensue they are in working order Agree opening balances to the previous year’s signed financial statements Cast and cross cast the register Agree closing balances to the accounts Obtain title deeds from land registry direct and ensure land and building are owned by the company. |
|
|
|
|
|
|
|
|
Result |
Page ref: Comments: |
|
|
|
|
|
|
|
|
Conclusion |
According to the audit work performed, the objective has been met/has not been met. Problems recorded: |
|
©Lynnix (UK) Ltd 19
Oct 2007