PLS ANSWER QUESTION 1 (a-i) COMPLETELY!

1. Audit Current Assets ( Non-current Assets )

a. Describe what asset groups are classified as non-current assets , and their characteristics or its distinctive characteristics when it comes to auditing non-current assets!

b. Mention the activities ( business processes ) that exist in the non-current asset cycle, accounts/ accounting records, and documents examined related to the audit of non-current assets.

c. Create a statement of audit objectives for non-current assets:

> Objectives of the test of controls audit , and specify at least three checked examples relate to those test of controls non-current assets !

> The purpose of substantive testing includes tests of balances ( test of balance related ) and Mention three examples of what is examined in the related test of balance, as well as

transactions ( test of details of transactions ) and mention the examples examined in this audit!

d. Create a table that can show the risk (at least 3 risks), the internal control system that should exist, and audit techniques to be performed in the following format:

No.	Risk	Internal Control Unit that must exist	Audit Engineering

e. Mention potential misstatements that could be detected if the auditor used analytical procedures

audit of the following non-current assets (write in column-2 the potential misstatements that can occur):

Analytical Procedure	Potential Wrong
Compare depreciation expense divided by cost gross manufacturing equipment, by year
Compare accumulated depreciation divided by gross cost of manufacturing equipment, with the previous year
Compare repair/maintenance expenses monthly/yearly, and equipment expenses office with the same accounts on the previous year.

F. Explain the purpose of examining accumulated depreciation in an audit of non-current assets.

g. What risks can occur if the addition / subtraction of non-current assets exists?

negligence is not reported (no data) in the Accounting Department?

h. The method of depreciation of fixed assets is in accordance with generally accepted accounting standards,

but not in accordance with the tax law, what are the consequences?

i. What are the analytical procedures for prepaid insurance and

insurance expense for non-current assets?