A company remain dormant since incorporation and throughout the period is not require to be audited whether it is PIE or not.
And a small company is exempted from audit if it is a private company (not a PIE) and satisfies the criteria as small company, the two out of three conditions.
1) Revenue <10m
2) Total assets <10m
3) employees <50
In business valuation, enterprise value is the value of the business. It includes any intangible assets not booked such as goodwill,...
To perform walk through in audit with the objective to ascertain the audit assertions. We need to understand the control or process in...
Per FRS 109, para 5.1.1, financial assets such as equity instruments shall be initially measured at fair value. And subsequently measured...
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