How will you vouch and/or verify the following? Advertisement Expenses

Auditing and Assurance Revision Questions and Answers

Answer

 Ascertain the value if advertisement expenses to ensure that the said expense has been properly allocated to capital, deferred revenue or revenue as the case may be

 Examine that such expenses relate to the client’s business.

 Review and examination of the complete list of media of advertisement indicating that dates, location, timing etc. along with the amounts paid in respect of each category.

 Examination of the receipts for amounts paid.

 Reviewing the contracts with the different agencies and ensuring the billing conforms to the term and condition specified therein.

 Ensuring that all such outstanding expenses have been properly accounted for.



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