Question 1d
Marking Guide
up to 1 mark per substantive procedure
discuss with directors whether formal announcement made of redundancies
review supporting documentation to confirm present obligation
review board minutes to confirm payment probable
cast breakdown of redundancy provision
recalculate provision and agree components of calculation to supporting documentation
review post year-end period to compare actual payments to amounts provided
written representation to confirm completeness
review disclosures for compliance with ias 37 provisions, contingent liabilities and contingent assets
max marks4