In the audit of long-term bonds payable, what would an auditor most likely perform as reasonableness testing? Shall a confirmation of the existence of individual bondholders at year-end provide evidence that the bonds payable balance is complete?

 

In the substantive audit of intangible assets, what would an auditor most likely perform on the client's valuation or allocation assertions in order to determine that intangible assets are stated at cost less amortization? 

Shall this include obtaining an analysis of ledger accounts and supporting documents for intangibles?

Answer rating: 100% (QA)

For the audit of longterm bonds payable an auditor would most likely perform the following reasonableness testing a Verify the completeness and accura... View the full answer