In verifying the amount of goodwill recorded by a client,the most convincing evidence that an auditor can obtain is by comparing the recorded value of assets acquired with the

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The most convincing evidence to verify the amount of goodwill recorded by a client is the appraised value of the assets acquired, as evidenced by independent appraisals. This is because independent appraisals provide an unbiased and objective assessment of the value of the assets, which is not influenced by the seller's or the client's own assumptions or estimates. Tax bills, financial statements, and insurance policies may provide some indication of the value of the assets, but they are not as reliable or objective as independent appraisals.

In Verifying the Amount of Goodwill Recorded by a Client,the