FREE Trial

Assume that a company obtains an appraisal for equipment that may be impaired. Does the auditor need

Question:

Assume that a company obtains an appraisal for equipment that may be impaired. Does the auditor need to test the appraisal? What work should the auditor perform to determine that the appraisal should be relied upon as a best estimate of the value of the assets?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 72% (11 reviews)

YES Auditor must test the appraisal and have to perform certain checks to ensure its reliable and in...View the full answer


answer-question-section
Answered By
tutor-profile-image
Ajay Pandey
I am qualified chartered accountant,I qualified in May 2018.My area of Interest in the Audit and Assurance and specifically Investigation and data Analytics part of it.I am very much interested in Financial Analysis and Data Analytics.
0.00 0 Reviews 10+ Question Solved
Related Book For  book-img-for-question
Auditing a business risk appraoch

Auditing a business risk appraoch

ISBN: 978-0324375589

6th Edition

Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

See More Books
Question Posted:
See More Questions

Students also viewed these Auditing questions

15/20/40pcs Jig Heads Set For Fishing 1/16oz 1/8oz 1/4 Oz Jig Heads For Bass Trout Saltwater Freshwater Painted Round Jig Head With 3d Eye - ISBN: B0C1C9PP9G - Free Book