The accountant was impressed by your report and has asked you to prepare a video presentation to be played to the Audit Committee at the next meeting on 15 May 2019.
Your video presentation should:
a) Explain the role of professional judgment in the application and interpretation of accounting standards. b) Discuss whether the professional judgments applied in the impairment write-down of the assets to estimate the cash flows, the discount rates, the CGUs, the allocation of corporate assets & costs to CGUs and the appropriate use of fair values have been reasonable/appropriate. c) Based on the findings from the 2018 report, identify and explain the areas that you believe the Audit Committee must consider when reviewing the 30 June 2018 impairment testing information. d) Recommend actions (if any) for improvement in the application of professional judgments relating to these estimations.
Please note that this is a presentation, you need to write down what the presenter is going to say as specific as you can. 400 approaximately.
And your presentation must be based on this report.
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