The following is a list of audit procedures that might be applied to property and equipment. Identify

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The following is a list of audit procedures that might be applied to property and equipment. Identify those procedures that might be applied using audit sampling.

a. Inquire about procedures followed to ensure that retirements are recorded.

b. Review capital budgets for the period and compare to accounting records.

c. Vouch additions by inspecting supporting documents.

d. Tour the plant and note the existence and appearance of new equipment.

e. Scan repair and maintenance expense and inspect supporting documents for large disbursements.

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Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice

ISBN: 9780070099999

5th Edition

Authors: Mcgraw-Hill

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Question Posted: May 09, 2024 04:00 AM

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The following is a list of audit procedures that might be applied to property and equipment. Identify

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Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice

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