Page 1 |
Previous | 1 of 265 | Next |
|
This page
All
Subset
|
STATEMENT ON AUDITING PROCEDURE SEPTEMBER 1965 34 Long-Term Investments Purpose of the Statement 1. Long-term investments constitute a substantial portion of the assets of a number of enterprises, and are particularly signifi-cant for investment and holding companies, such as small busi-ness investment companies and bank holding companies. Matters relative to auditing long-term investments therefore are of major interest to the profession. The purpose of this statement is to furnish some guides in applying generally accepted auditing standards to examinations of the financial statements of companies with such investments. These investments may be represented by capital stock and other equity interests, bonds and similar debt obligations, and loans and advances that are in the nature of investments. The statement is concerned mainly with evidential matter corroborating both the amounts at which long-term in-investments are stated in the financial statements and the re-lated disclosures. Objective of Examination 2. The independent auditor should ascertain whether the long-term investments are stated on a basis that conforms with Issued by the Committee on Auditing Procedure American Institute of Certified Public Accountants COPYRIGHT 1965 BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, INC. 666 FIFTH AVENUE, NEW YORK, N.Y. 10019
Object Description
Title | Statements on auditing procedure, no. 34-54 |
Author | American Institute of Accountants. Committee on Auditing Procedure |
Subject |
Auditing -- Standards -- United States |
Citation |
Statements on auditing procedure, No. 34-54 |
Date-Issued | 1965-1972 |
Source | Originally published by: American Institute of Accountants |
Rights | Copyright held by and permission to reprint: American Institute of Certified Public Accountants |
Type | Text |
Format | PDF page image with corrected OCR scanned at 400 dpi |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi Library. Accounting Collection |
Date-Digitally Created | 2010 |
Language | eng |
Identifier | sap34-54 |