ACCA AAA ^INT Syllabus D. Audit of Historical Financial Information - Auditing Intangible Assets - Notes ^{7 / 41}

Basic procedures are:

1. Inspect legal documents, confirming the length / type / cost of asset

2. Agree cash paid to the bank statement and the cash book

3. Inspect minutes of a discussion with management regarding amortisation / non-amortisation and recalculate where necessary

4. Look at forecast sales records to determine the future economic benefit to be derived