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Assume that a company obtains an appraisal for equipment that may be impaired. Does the auditor need

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Assume that a company obtains an appraisal for equipment that may be impaired. Does the auditor need to test the appraisal? What work should the auditor perform to determine that the appraisal should be relied upon as a best estimate of the value of the assets?

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YES Auditor must test the appraisal and have to perform certain checks to ensure its reliable and in...View the full answer


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Ajay Pandey
I am qualified chartered accountant,I qualified in May 2018.My area of Interest in the Audit and Assurance and specifically Investigation and data Analytics part of it.I am very much interested in Financial Analysis and Data Analytics.
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Auditing a business risk appraoch

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Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

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