All of the following are significant issues for consideration when auditing for the impairment of goodwill,except for which of the following?
A)timing of the assessment by management.
B)amortization in years of the goodwill.
C)clear objective evidence supporting the assessment.
D)understanding the client's business and its risks.

Question

Quizplus · Accepted Answer

Amortization of goodwill is no longer permitted under GAAP. The other options listed are significant issues for consideration when auditing for the impairment of goodwill.

All of the Following Are Significant Issues for Consideration When