There are two issues to consider: 1/ does my auditor have the necessary skills to value goodwill? and 2/ do the rules on auditor independence allow the auditor to do so?

On the first issue, some auditors will be sufficiently experienced to assist in preparing a valuation report, while others will find it takes them outside their comfort zone. We would only make the comment that an audit is by its nature backwards looking, whereas a valuation is forward-looking, requiring forecasting and industry analysis expertise. We believe our experience, independence and value proposition ensure we are well-placed to prepare discrete valuation assignments for our clients.

On the second issue, the Auditor’s Independence Guide provides that there exists a threat of “self-review” when an audit firm performs a valuation service for an audit client that forms part of the client’s financial statement. If the valuation service is “material”, that firm should withdraw from the audit. Recent comments made by ASIC representatives suggest that auditors should not prepare valuation services for their audit clients.

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I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.

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