Question 2 Mytel Ltd You have been asked to take over as audit in charge of Mytel Ltd a telephone manufacturing business based in Scotland. The previous in-charge has left you no information other than that property, plant and equipment needs to be audited. You have managed to obtain the following breakdown of the numbers: Motor vehicles cost 400,000 (accumulated depreciation 100,000) Land 1,200,000 Plant and equipment 1,500,000 {accumulated depreciation 350,000) Requirement 

(a) Describe 6 audit procedures that could be perfermed over all these items. 

(b} Set out the substantive audit procedures (grouped by assertion) that you would use to audit these balances

Answer rating: 100% (QA)

a 6 Audit Procedures for Property Plant and Equipment 1 Physical Verification Physically inspect the assets to confirm their existence location and co... View the full answer