Explain why the emphasis in auditing capital assets is on the current-period acquisitions and disposals rather than

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Explain why the emphasis in auditing capital assets is on the current-period acquisitions and disposals rather than on the balances in the account carried forward from the preceding year. Under what circumstances would the emphasis be on the balances carried forward?
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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0133098235

12th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

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