The following statement is false regarding the audit strategy for PPE:

because material, verification of PPE typically involves significantly more time and cost than verification of current assets

for depreciation, inherent risk is affected by the difficulty in estimating both useful lives and residual value

although material, verification of PPE typically involves significantly less time and cost than verification of current assets

unlike current asset accounts, control risk assessment for PPE asset balances are less dependent on controls over major transaction classes