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Chapter 8 3 4

Non-current assets

5.1 Key assertions

 Existence

 Valuation

 Completeness

 Rights and obligations

5.2 Sources of evidence

 Non-current asset register

 Purchase invoice

 Physical assets

 Depreciation policy and rates

 Ownership documents e.g. title deeds, registration documents, insurance policy

 Cash book / bank statements

5.3 Key areas to consider

 Existing assets

 Additions

 Disposals

 Depreciation

 Revaluations

 Additions

 Reviewing the financial statement disclosure

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