Question: Describe how each procedure may be used to gather evidence

Describe how each procedure may be used to gather evidence on fixed assets and which broad financial statement assertion(s) (existence, completeness, ownership [rights], valuation [allocation], and presentation and disclosure), are being addressed by the use of the procedure.

Required:
Audit procedures may be classified as:
Recalculation/reperformance
Observation
Confirmation
Enquiry
Inspection of documents (vouching, tracing, scanning)
Inspection of physical assets
Analysis




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  • CreatedJanuary 09, 2015
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