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What is a film audit?

What is a film audit?

The purpose of the audit: Verifying the amount of financial proceeds against concluded investment and other agreements. Determining the correct balance of the film account against the presented financial documentation.

What should be included in the audit report?

The auditor’s report should describe the audit as including: Examining, on a test basis, evidence to support the financial statement amounts and disclosures; Assessing the accounting principles used and significant estimates made by management in the preparation of the financial statements; and.

Who is the Hawaii state auditor?

Auditor Les Kondo
State Auditor Les Kondo has blasted a draft report of a five-month-long special House Investigative Committee that was created to scrutinize two audits but quickly expanded into an investigation of Kondo and his office.

How do you audit a cinema?

Audit of Expenses of Cinemas and Theatre

  1. An Auditor should verify film hire charges from the terms and conditions of agreement.
  2. Accounting for the film purchased and the film hired should be done accordingly.
  3. Film purchased but not shown should be accounted for properly.
  4. Operating expenses should be thoroughly vouched.

Who prepare the audit program?

After preparing an audit plan, the auditor allocates the work and prepares a program which contains steps that the audit team needs to follow while conducting an audit. Thus, an auditor prepares a program that contains detailed information about various steps and audit procedures to be followed by the audit.

What does GAAP stand for?

Generally Accepted Accounting Principles
The standards are known collectively as Generally Accepted Accounting Principles—or GAAP. For all organizations, GAAP is based on established concepts, objectives, standards and conventions that have evolved over time to guide how financial statements are prepared and presented.