identify and provide valid audit procedures addressing each of the significant accounting issues and the risks they pose. Capital assets Leases In June 20X1, Orion leased a truck for four years at 0% interest, for a monthly payment of $792. If Rico is happy with the trucks performance, he will consider purchasing the truck at the end of the lease for the buyout amount of $40,000, as he would expect it to meet his needs for at least 10 years. The $40,000 is representative of what the fair value of the truck is expected to be at that time. Lease payments have been expensed in the financial statements. If the truck had been purchased for cash, the price would have been $65,000.