Question
Bob is testing fixed asset additions for his audit and has received client support for his testing. What is he required to consider when gathering
Bob is testing fixed asset additions for his audit and has received client support for his testing. What is he required to consider when gathering and objectively evaulating the audit evidance?
A. the competency and suffciency of the evidence
B. the level of review completed over the audit evidence by management before providing the requested support to the audit team.
C. The client contact who provided the audit evidence.
D. The budget assigned to complete our testing of the related audit evidence.
During your testing of the property, Plant and equiptment FSLI, you approach some evidence surrounding a large asset addition that is contrary to management expectations. What should you do?
A. Try to make the support match management's explanations, as they know more about the company than you do.
B. Disregard the contrary evidence in order to mark your audits prepared.
C. Bring the contrary evidence to the attention of your engagement team and management to obtain explanation.
D. Replace our original selection by making another selection to validate management's explanations.
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