FAQ
What are the most common problems found during a fixed asset audit?
Missing assets (on the books but not found) and unrecorded assets (found but not listed) are the most common problems.
The Law of the Republic of Uzbekistan on "Accounting" was approved in a new edition on April 13, 2015
Is it ture or not
Not true
How many tasks do auditors haveduring the audit inspection of fixed assets ?
5 according to ppt
Why we need to follow 7-step checklist?
1-option:keep asset records accurate and financial reports dependable
2-optioon is To simplify your Fixed Asset Audit
Easyku
The largest auditing firm in the world...
Deloitte
Bonus
+200
When was the Law of the Republic of Uzbekistan on "Auditing Activities" was approved (year and day)
a new edition on February 25, 2021
The main purpose of auditing fixed assets
to ensure that the movement of fixed assets and the depreciation allocations concerning them have been correctly accounted for and reflected in accordance with the requirements of IFRS.
In step 3, to what should every tag correctly links ?
to the asset record in your system
Meaning of the word 'AUDIT' and from which language?
the Latin “auditus”, which means a hearing, a listening or an oral retelling.
How can technology help improve fixed asset audits?
Technology can make asset audits much faster and more accurate. For example, using a mobile app to scan asset tags greatly speeds up the count and reduces errors. Enough
Audit software can instantly flag missing items and generate reconciliation reports, giving you real-time accuracy with far less effort.
Which law is approved that by President I. Karimov in 2015 emphasized modern corporate governance in joint-stock companies.
No. PF-4720
Please fill the task: To ensure that ....are correctly classified in the balance sheet, and if necessary, that the necessary supplementary information is fully and accurately provided in the appendices.
receivables and payables
BONUS Really sorry
-300
How many public companies audited in 2023 approximately
5000
By Removing ghost assets what do we prevent?
overstated balance sheets and incorrect depreciation
In what paragraph stated that "Increasing the transparency of the activities of joint-stock companies, and their publication of audit and financial reporting information based on international standards"
According to paragraph 8 of Decree No. PF-4720
What mentioned in 4th task
4- To assess whether the {fixed assets are reflected at their actual value in the balance sheet}
How should we note If an asset is missing or an unexpected item is found ?( Asset Sighting)
note it as a 'discrepancy'
2025-yil I yarim yilligi holatiga ko'ra xalqaro auditorlik tashkilotining yoki xalqaro assotsiatsiyaning aʼzolari boʻlgan auditorlik tashkilotlari soni nechta bo'ldi? in Uzbekistan 4tagacha adashish mumkin
32
Which document lists the assets checked, notes discrepancies, and may recommend corrective actions to improve asset management?
An asset verification report
What is the Cabinet of Ministers Regulation No. 54 (1999)?
''On the Composition of Costs for the Production and Sale of Goods (Works, Services) and the Procedure for Forming Financial Results"
How many areas of inspection (in accordance with the main tasks of the audit of essential tools)
Tell us at least 2 of them briefly
5 areas including:
- audit of the correct accounting of depreciation of fixed assets;
- verification of operations regarding the acceptance of fixed assets;
- checking that the disposal of fixed assets has been correctly accounted for;
- verification of the justification of expenses for the repair of fixed assets;
- checking that operations related to fixed assets have been correctly taxed..
After the physical count, then reconcile results with your asset register. ..Finally, categorize discrepancies as missing, unrecorded, or data errors based on their nature.
Which step is that
Step 5: Reconcile Findings with Records
ICAEW Which county's standart called like that
UK. The Institute of Chartered Accountants in England and Wales (ICAEW) is a professional membership organisation that promotes, develops and supports chartered accountants and students around the world. As of December 2024, it has over 210,000 members and students in 150 countries. ICAEW was established by Royal Charter in 1880.[6]