1. Airline Sector

Topic wise KAM extracted from Annual Reports of Airline Companies of other Jurisdictions where the model similar to the new Auditors Report has already been adopted is given as follows:

  1. Goodwill and landing rights impairment assessment
  2. Judgmental accruals and provisions
  3. Aircraft maintenance provisions
  4. Treasury operations
  5. Revenue recognition: classification as either principal or agent
  6. Revenue recognition: early recognition of Jetcard and other deferred income
  7. Completeness of provisions against operator prepayments
  8. Completeness of operator accruals
  9. Valuation of goodwill and intangible assets created through new acquisitions