Question: we have seen that auditing current assets such as cash, securities, and inventories emphasize the audit procedures of observation, inspection, and confirmation to determine the

we have seen that auditing current assets such as cash, securities, and inventories emphasize the audit procedures of observation, inspection, and confirmation to determine the physical existence of these assets. Auditors would typically not take a similar approach when auditing property, plant, & equipment assets. Why do you think that is the case? What steps do you think the auditors should take to audit these assets?

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