Answered: nce that there are no significant…

nce that there are no significant amounts of unrecorded retirements of property, plant and equipment. a. Describe two ways that the auditors obtain evidence that

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 30CYBK

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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

Question

Auditors should obtain evidence that there are no significant amounts of unrecorded retirements of property, plant and equipment.

a. Describe two ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of property (land).

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Audit procedures for items of Financial Statement

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