Question

Pierce, an independent auditor, was engaged to examine the financial statements of Wong Construction, Inc., for the year ended December 31. Wong’s financial statements reflect a substantial amount of mobile construction equipment used in the firm’s operations. The equipment is accounted for in a subsidiary ledger. Pierce developed an understanding of internal control and set the control risk at moderate.

Required:
Identify the substantive audit procedures Pierce should utilize in examining mobile construction equipment and related depreciation in Wong’s financial statements.



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  • CreatedSeptember 22, 2014
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