Question: REQUIRED: FOR THE VALUATION ASSERTION, IDENTIFY THE RISKIER [THAT IS,LESS RELIABLE] PROCEDURE AND EXPLAIN WHY. Procedure A Procedure B Which [if either] is Riskier? 1.

REQUIRED: FOR THE VALUATION ASSERTION, IDENTIFY THE RISKIER [THAT IS,LESS RELIABLE] PROCEDURE AND EXPLAIN WHY.

Procedure A Procedure B Which [if either] is Riskier?
1. Physically examine inventory of parts for the number of units on hand versus examine inventory for obsolescence.
2. Estimate a company's oil reserves with a geologist specializing in oil and gas versus Estimate the amount of oil stored in a tank farm
3 Confirm a bank balance with the bank versus examine the bank statements provided by the client.
4 Examine an original document versus Examine a copy of a document

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