Completed by Reviewed by Reviewed by Schedule

BDO Ebrahim & Co. (Partner)

Chartered Accountants

CLIENT :
PERIOD : Date : Date : Date:
F. S. A. : INTANGIBLE ASSETS

INITIAL CONCLUSION
PROCEDURE

PROCEDURE
SELECTED
NUMBER

REVIEW S= Satisfactory
BY STAFF
ASSERTION AUDIT PROCEDURE N=Non-satisfactory SCHEDULE COMMENTS
INITIAL
S or FWQ
Dt:
N REFERENCE
C E A V
A Ebrahim
Ebrahim
EbrahimSUBSTANTIVE
Ebrahim&
&&
&Co.
Co.
Co.
Co. ANALYTICAL PROCEDURES
Chartered
Chartered
Chartered
CharteredAccountants
Accountants
Accountants
Accountants
1. Explain movements and investigate any
unexpected or unusual relationships between
current year, prior year and budgeted amounts for:

P P P a. acquisitions by class of assets;

P P P b. disposals by class of assets;
P P c. amortisation charges;
P P d. amortisation charges by month or quarter.

P P P 3. Compare amortisation charges with recorded asset

amounts in total or by separate class of assets.

B OTHER SUBSTANTIVE PROCEDURES

P P P P 1. Agree opening balances with prior year files/audit

accounts.

P 2. From understanding of the business consider

whether all material intangibles are included in the
financial statements, on the basis of the client's
accounting policy and generally accepted
accounting principles.

3. Obtain transaction listing of acquisitions, disposals

and amorization; and
P a. check arithmetic accuracy;
P P b. trace selected sub-totals to general ledger;
P P P c. investigate large or unusual items.
P P P d. agree listing details to supporting
documentation;
P e. agree appropriateness of account coding of
assets.
P f. check calculation of gain or loss on disposal.
g. check amortization policy consistent with prior
year and reasonable having regard to:
P i. residual value; and
P ii. useful lives.
Ebrahim & Co.
P 4. CharteredConsider
Accountantsbalances on accounts representing
intangibles for possible diminution in value having
regard to e.g. anticipated income and technological
change. Determine the adequacy of provision
made for permanent diminution in value .

P P 5. Ensure that entity has assess at the end of each

reporting period, whether there is any indication
that an asset may be impairred, if any such
indication exists, the entity shall estimate the
recoverable amount of the asset.

766391097.xlsx-Audit program Page 1 of 10 Intangibles

 P 6. Ensure that the recoverable amount of an asset,
tested for impairment, is less than its carrying
amount, the carrying amount of the asset shall be
reduced to its recoverable amount.

GENERAL ASSURANCE BOX

DESCRIPTION C E A V

GR GRADE
GC GRADE
RISK PROFILE

Assurance from:
TOC's
RFSA
SAP
OSP

Assurance sufficient:

766391097.xlsx-Audit program Page 2 of 10 Intangibles

 Prepared By. Bilawal Schedule
Date 11-Mar-17
Reviewed By <>
Date

Client name Defense Housing Authority - Peshawar

Period end June 30, 2017
Account head Intangibles
Subject Lead sheet

Conlcusion
Intangibles are free from material misstatement.

Sr# Description Ref. Current period Ref. Prior period Variance Annot

Rs. Rs. Rs. %age

1 Intangibles <> 179,053 262,196 (83,142)

179,053 < > 262,196 (83,142)

<

Annotations
{a}
{b}
 Prepared By. Bilawal Schedule
Date 11-Mar-17
Reviewed By
Date
Client name Defense Housing Authority - Peshawar
Period end June 30, 2017
Account head Intangible assets
Subject Lead sheet

Conlcusion
Intangible assets are free from material misstatement.

NBV NBV
Sr# Description Ref. Current period Ref. Prior period Variance Annot

Rs. Rs. Rs. %age

Quick Books Software 54,758 -

Microsoft VSPRO
Software,Software OS
2012R2 SNGPL 124,296 -

179,053 < > -

<

Annotations
{a}
{b}
{c}
 Prepared By. Bilawal Schedule
Date 11-Mar-17
Reviewed By
Date

Client name Defense Housing Authority - Peshawar

Period end June 30, 2017
Account head Intangible assets
Subject Movement schedule

Purpose
To test that Intangibles have been completely & accurately recorded and disclosed in the Financial statements.

Procedure
Match the opening balances, total additions, total deletions/disposals and the related amortisation thereon and the closing NBV and total cost/revalued
amount in the GL.

Explain movements and investigate any unexpected or unusual relationships between current year and prior year for:
* acquisitions by class of assets;
* disposals by class of assets;
* amortisation charges;
* amortisation charges by month or quarter.
Check amortization policy consistent with prior year and reasonable having regard to residual value and useful life.
Check that the rates of amortisation are as per policy.
Search in the intangibles which are carried at nill net book value but are still in use.
Consider balances on accounts representing intangibles for possible diminution in value having regard to e.g. anticipated income and technological
change. Determine the adequacy of provision made for permanent diminution in value .
Ensure that entity has assess at the end of each reporting period, whether there is any indication that an asset may be impairred, if any such indication
exists, the entity shall estimate the recoverable amount of the asset.
Ensure that the recoverable amount of an asset, tested for impairment, is less than its carrying amount, the carrying amount of the asset shall be
reduced to its recoverable amount.

Conclusion

Intangibles are free from material misstatement and has been completely & accurately recorded and disclosed in the Financial statements.

Microsoft VSPRO
Accounting software
Description Ref. Ref. Ref. Software,Software OS Ref. Total Annot
Quickbooks
2012R2 SNGPL
Rs. Rs. Rs.
Year ended June 30, 2018
Net carrying value basis
Opening book value 60,233 201,963
Additions - - -
Deletions - NBV - - -
Amortization charge (5,475) (77,667) (83,142)
Closing net book value 54,758 124,296 (83,142) < >
<

<

<

Gross carrying value basis

Cost/revalue 65,708 279,630 345,338
Accumulated amortization (5,475) (77,667) (83,142)
Net book value 60,233 201,963 262,196
<

<

<

Year ended June 30, 2017

Net carrying value basis
Opening book value -
Additions during the year 65,708 279,630 345,338
Deletions - NBV - - -
Amortization charge (5,475) (77,667) (83,142)
Closing net book value 60,233 201,963 262,196

Gross carrying value basis

Cost/revalue 65,708 279,630 345,338
Accumulated amortization - - -
Net book value 65,708 279,630 345,338
 Prepared By. Bilawal Schedule
Date 25-Aug-17
Reviewed By
Date

Client name State Engineering Corporation (Private) Limited

Period end June 30, 2017
Account head Intangible assets
Subject Amortization - remaining

Purpose
To ensure that amortization calculated by management is complete and valued correctly.

Procedure
Assess if amortisation calculated by the management is in line with the company's Amortisation policy.

Recalculate Amortisation during the year and compare with the amount recorded in the GL.

Conclusion
Amortisation is not materially misstated.

Microsoft VSPRO
Annot
Accounting Software,Software
software OS 2012R2
Particulars Ref Quickbooks SNGPL Total
Rs. Rs. Rs.

Opening cost 65,708 279,630 345,338

Less: Accumulated depreciation <> - - - <>
Opening net book value 65,708 279,630 345,338
Rate <> 33% 33%
Amortisation on remaining assets 21,900 93,201 115,101

Total Amortisation expense

Amortisation on remaining assets <> 21,900 93,201 115,101 <>
Amortisation on disposals <> - - - <>
Amortisation on additions <> - - - <>
21,900 93,201 115,101
 Client name Defense Housing Authority - Peshawar Prepared By. Bilawal Schedule
Period end June 30, 2017 Date 11-Mar-17
Account head Intangible assets Reviewed By
Subject Additions Date

Purpose
To test additions made in Intangible assets for existence, valuation and rights & obligations.

Procedure
Obtain list of additions during the year and check that additions during the year meet the following criteria:
- the definition of an intangible asset (IAS 38.18-a);
- the recognition criteria (IAS 38.18-b)

Trace and compare additions from the general ledger to the supportings. Ensure that the purchase was carried out transparently; witholding tax was deducted in accordance with the Income Tax Ordinance; and the company has the rights to the asset.

Ensure all costs incurred on the intangible asset have been capitalised in accordance with IAS 38.68 (a and b).

For each client customise the procedure so that the name of the accountnat, manager and all relevant details are entered here so that in the future, the team knows all details of what documents to obtain and who to discuss it with.
Conclusion
Additions during the year are free from material misstatement.

Amount per Comparative

Sr No. Voucher Vendor name Description Invoice Difference Requisition Quotation Board approval WHT Payment Paid through Review Authorisation Supporting Annot
GL Statement
Date No. Date Amount Rs. Rs. Date Date (latest) Date Date Rs.
Software

Amount was paid on account of Allied Bank

purchase of Quick Books Pro 2017 Chq #
25-Apr-17 BPV-838/17 Teragrid Pvt Limited licensed version. 17-Apr-17 65,708 65,708 - O O O P 4,538 61,170 1335437439 P P P

Rs. 63,180 were paid on account of

software microsoft VSPRO 2015
SNGL OLP NL, Rs. 107,640 were
paid on account of software
operating system window servers
standard 2012 R2 and Rs. 108,810
were paid on account of software Askari Bank
operating system SQL server Chq #
27-Sep-16 BPV 218 SHah Nawaz PVT Ltd standard 2016 SNGL OLP NL. 16-Aug-16 279,630 279,630 - O O O P P 00358909 P P P

<>

<>

Amount vouched 345,338

Amount not vouched
Total <>
 Client name Template Company Limited Prepared by Team Schedule
Period end June 30, 2016 Date June 30, 2016
Account head Intangible assets Reviewed by Manager
Subject Deletions Date June 30, 2016

Purpose
To test deletions made in Intangible assets for completeness and valuation.

Procedure
Obtain list of deletions during the year and check that deletions during the year meet the following criteria:
- on disposal (IAS 38. 112-a)
- there are no future economic benefits from use of asset. (IAS 38.112-b)

Trace and compare deletions from the general ledger to the supportings. Ensure that the disposal was carried out transparently; board approval was obtained for the disposal; net book value and gain / loss has been calculated accurately.

Through management discussion or reading agreements, identify assets that do not have future econimic benefits from use of assets and need to be derecognised.

For each client customise the procedure so that the name of the accountnat, manager and all relevant details are entered here so that in the future, the team knows all details of what documents to obtain and who to discuss it with.

Conclusion
Deletions during the year are free from material misstatement and have been recorded completely.

Board Accumulated Amortization

Sr No. Voucher Invoice Acquirer Description Received Ref Cost Ref Ref NBV Ref Proceeds Gain / (loss) Review Authorisation Supporting Annot
approval Amortization for the year
Date No. Date Date Through Rs. Rs. Rs. Rs. Rs. Rs.
Software

<> <> <> <>

Patent

<> <> <> <>

Amount vouched
Amount not vouched
Total <> <> <>
 Prepared By. Bilawal Schedule
Date 11-Mar-17
Reviewed By
Date

Client name Defense Housing Authority - Peshawar

Period end June 30, 2017
Account head Intangible assets
Subject Amortization - additions

Purpose
To ensure that amortization calculated by management exists, is complete, and is valued correctly.

Procedure
Assess if amortization calculated by the management is in line with the company's depreciation policy (an intangible asset with infinite useful life should not be
amortized). (IAS 38. IN 11)
Recalculate amortization on deletions during the year and compare with the amount recorded in the GL.

Conclusion
Amortization is not materially misstated.

Sr No. Vendor name Particulars Purchase Year end Period Rate Cost Amortization Annot

Date Date Months %age Rs. Rs.

Quick Books Software

Teragrid Pvt Quick Books Pro 2017

Limited licensed version. 25-Apr-17 30-Jun-17 3 33.33% 65,708 5,475

5,475 < >

Microsoft VSPRO Software,Software OS 2012R2 SNGPL

Microsoft VSPRO
SHah Nawaz Software,Software OS
PVT Ltd 2012R2 SNGPL 27-Sep-16 30-Jun-17 10 33.33% 279,630 77,667
 77,667
Total 83,142