Saturday, December 29, 2007

[International_Accounting_Standards] I need help to judge the amount of prepaid insurance???

I'm performing an audit of a client who provided trial balance and some supporting documents.  The problem is that between these documents there are some photo copies of receipts of premium payment produced by the insurer.  First issue is that these documents do not mention covering period I think that it will be annual.  The second issue is that I whether should I take the cheque date or receipt date as start date.  The third issue is that if these dates are any day of the month so should I calculate the period on the basis of days or round days to one month.
 
Please reply me ASAP because I'm working at home and I've to submit it tomorrow for partner review.


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