Answered: not a procedure used by an auditor in…

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not a procedure used by an auditor in searching for unrecorded disposals of long-lived assets?

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 12CYBK

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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

Which of the following procedures is not a procedure used by an auditor in searching for unrecorded disposals of long-lived assets?

a. Examine property tax records.

b. Send confirmations to insurance agents.

c. Examine scrap sales accounts.

d. Make client inquiries.

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Audit procedures for items of Financial Statement

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