 Clearly they're going to have some specialty area and we can go into those types of intangible assets if we have other companies that have some kind of trademark situation or if they have some type of technology that is going to be highly valued and it's being recorded as highly valued then we want to make sure that it is being properly recorded as well. Alders often assess the inherent risk of high as high given the factors above. So we might say hey the risk factors in these areas are high. It depends on the industry as to know how much of this types of intangible assets will be in place once again and when we see these intangible assets we'll typically put the risk as high if they're going to be material factors to the financial statements they're things that we're going to want to look into. Now we're going to consider the control risk assessments so the control risk the types of controls that are going to be put in place as the auditor we want to basically be able to rely on controls to some extent if we can and then consider the substantive tests after the consideration of the controls. So the controls relevant factors related to them expertise and experience of those calculating the fair value of the assets. So notice when we think about these intangible assets it really depends on who is the one that's calculating the value of these intangible assets how did the value of these intangible assets be put on the books. Now again this will differ with the type of intangible asset but we want to basically know where did this intangible asset come from who came up with the calculation how did it get recorded so we can consider if they have the experience and expertise in order to do the proper type of calculation related to them. Controls over the process used to determine fair value measurement like controls over data and segregation of duties between people committing the entity to purchase and people assigning the valuation so we want controls over the people that are basically in charge of the purchase of these type of things like intangible assets and the people that have the valuation that are going to be calculating the valuation of them that are going to be on the books we want to basically have those two things a segregation of duty there as an internal control factor how much the business relies on and employs valuation specialists. So we have certain types of intangible assets again if we're in a movie industry or something like that we're going to need specialists in order to get in there and figure out what the value is with regards to these intangible assets and we want to know to what degree people are relying on on specialists or who are the specialists are and that are applying the valuation of these intangible assets. We want to consider any significant management assumptions in determining the fair value as well so anytime we think about something if there's an estimate being involved and there's basically assumptions within the valuation process then that could be a place that there could be problems of course we are want to have some understanding of what the the management assumptions would be with regards to valuation. We also want to consider the integrity of change controls and security procedures for valuation models and information systems. We also want to have controls over the approval processes as well. Now we've considered the inherent risk and the control risk related to intangible assets now we're going to consider these substantive procedures same kind of process we have here we got the inherent risk we've got the control risk and then we consider the detection risk relation to the substantive testing how much substantive testing we would have to do then tests related to valuation and impairment of intangible assets are often necessary because of the complexity and degree of judgment increase the risk of material misstatement so we want to test basically the valuation and any type of impairment process because again these intangible assets being on the books one what was the valuation process they were put on the books and two how would we know if they decreased in value if you talked about something like goodwill then we're concerned with basically the decreasing value we'd have to put in some tests in order to do that may take specialists for us to go in and determine whether or not there's been a decrease a problem within the valuation of some of these intangible assets things like trademarks things like goodwill. Substitive evidence is required for all significant accounts and substantive analytical procedures are loan are not generally enough to provide sufficient evidence for significant transactions involving intangible assets so we can't really just rely on in other words the analytical procedures with regards to significant amounts with intangible assets you'll recall that the analytical procedures are those types of procedures that I just envision you can envision the auditor nice and cozy in their little in their auditing office at their at their company office at their firm's office as opposed to the substantive tests that we would typically think of as going to the business and doing more calculations at the business so the normal kind of comparison to the industry standards or comparisons to other companies or comparisons year over year that we may do substantive analytical procedures are not typically going to be sufficient if we're if we're talking about transactions or large transactions relation related to intangible assets we want to do more things usually related to the valuation and the impairment of course so the assertion considerations for test of details will typically include existence as their existence of the intangible assets again they're intangible so we want to make sure that they exist and we can't just go out and look at them as we would if it was property plants and equipment so that's going to be a concern for us to consider the valuation of them again they're intangible and oftentimes they're somewhat unique if we're talking about book rights copyrights movie rights or goodwill to one particular type of company then we want to we're concerned with evaluation completeness rights and obligations to the do the rights and obligations of the assets actually belong to the company especially if there's legal rights with relation to things like goodwill or things like copyrights we want to make sure that they have the legal rights to them and then of course classification