Audit Procedures/Work On The Verification Of Capital Commitments

July 2nd, 2009 Comments off
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The audit procedures are as follows:

Capital Commitments:

1. Review the company’s capital expenditure budgets noting expenditure which has not yet being incurred

2. Review the board minutes for expenditure authorized by the directors but not yet contracted for

3. Check correspondence and order documents for expenditure contracted for but not yet provided in the financial statements

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