When expenditures for property, plant, and equipment are processed as routine purchase transactions, the auditor: (a) must

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When expenditures for property, plant, and equipment are processed as routine purchase transactions, the auditor:

(a) must include some of these transactions in the tests of controls over the expenditures cycle.

(b) may elect to use a combined approach.

(c) should use mainly a substantive approach on these and all major additions.

(d) should normally assess control risk as high for these transactions.

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Auditing A Practical Approach

ISBN: 9781118878415

1st Extended Canadian Edition

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren

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