| Author | Post |
|---|
arabian
Member
| Joined: | Mon Aug 24th, 2009 |
| Location: | |
| Posts: | 1 |
| Status: |
Offline
|
| Mana: |  |
|
Posted: Mon Aug 24th, 2009 12:56 |
|
Scenario
Client was constructing a building, which is completed this year. Last year it was coming in Capital Work in Progress but this year its completed. Do I need an expert's opinion on valuation of building or can i get an assurance by other audit procedures??
Thanks
|
lancelot
Member
| Joined: | Wed Aug 13th, 2008 |
| Location: | |
| Posts: | 3 |
| Status: |
Offline
|
| Mana: | |
|
Posted: Mon Sep 21st, 2009 09:21 |
|
the valuation, is recorded on historical cost, here the cost of build the building...
and it's finished, when it's used, or have professional report on its completeness
thereby, on normal condition, this can be assured with related expenses and cost incurred invoice and corresponding records, unless there's circumstance indicated that, the build is necessarily revalued.
|
Current time is 08:32 | |
|
|
|
