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 “materialâ€, 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.