Question

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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