Substantive Procedures for Testing Intangible Assets
-Tests of details associated with valuation and impairment of intangible assets are often necessary because the complexity and degree of judgment increase the risk of material misstatement
-Summary: intangible assets are complex and are high risk accounts
-Some substantive evidence is required for all significant accounts, and substantive analytical procedures are not likely to provide sufficient, appropriate evidence for significant transactions involving intangible assets.
-Summary: need to get some substantive evidence, but does not provides sufficient to draw conclusion