Know that :

• Conducting an audit for the financial year ending December 31,2019.
• Client has go public and property development company.
• Client builds property like apertment unit, housing, real estate, and property invesment products.
• Has project development cooperation with its customer.
• Client is bound by a contract signed by both parties before notary for the construction of a project with this customer.
• Project been completed 60% and the client acknowledged 60% of the development as revenue in the 2019 financial year

Question :

1. In your opinion, as an auditor, what account should the client classify the apartment and housing / real estate complex be? Explain your answer!
2. What is the audit procedure that you will apply to ensure the recognition of revenue that is 60% of the project?
3. What audit evidence will you examine and what are the related assertions? Explain your answer!