Substantiation file requirements – PPE fair value assessment
Client Substantiation File.
https://auditnz.parliament.nz/resources/working-with-your-auditor/csf/ppe-fair-value-assessment
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Substantiation file requirements – PPE fair value assessment
Client Substantiation File.
Information required |
Responsibility |
Completed |
Reference |
A formal fair value assessment for each class of revalued PPE setting out the difference between the carrying value and the expected fair value. |
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A summary of the major assumptions used. For example, these could include: |
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- If the fair value has been estimated by use of indices, what information the indices are based upon. A copy of the relevant indices should be retained.
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- Where market-based information is used, the source of the information. A copy of the information should be retained.
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- If the fair value is estimated by reviewing changes in unit rates, the source of the information. A copy of the unit rate information, together with any workings should be retained.
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