Question: Pierce an independent auditor was engaged to examine the financial

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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