Multiple Choice
Auditors usually test for the existence of property,plant and equipment by:
A) re-performing depreciation calculations.
B) physically sighting the assets on the fixed assets register in the first year the client is audited.
C) vouching to supporting documentation.
D) performing analytical review procedures.
Correct Answer:

Verified
Correct Answer:
Verified
Q26: When substantive tests performed identify errors or
Q27: Observing the client's stocktake enables the auditor
Q28: Existence of trade receivables is usually verified
Q29: The additional opportunities for influencing the timing
Q30: Investments can be vouched to supporting external
Q32: When the assessment of inherent risk and
Q33: Testing the mathematical accuracy of the cash
Q34: Explain how auditors evaluate the results of
Q35: The collapse of Worldcom in 2002 caused
Q36: The timing of substantive testing is dependent