You are currently on an audit engagement for: 4Homes Ltd. a mortgage broker with offices across Vancouver. The business matches mortgagers (borrowers) with lenders, and prides itself at being able to offer highly competitive rates. They also provide the service of having the broker meet the client in their home, rather than holding all meetings in their offices. Clients love this VIP service.

You have been asked to audit the business' property, plant and equipment costs for the year ended June 30, 2022. They own land and buildings of 2 locations, computers, printers and other office equipment, and 3 vehicles used by mobile brokers. The assets are listed on their Fixed Asset Continuity Schedule. Depreciation is calculated using the straight-line method with the following useful life estimates; 20 years for building, 20 years for office equipment, and 8 years for vehicles. You are a bit surprised with their estimate related to office equipment as this account relates primarily to computers.

Describe how you would audit property, plant and equipment. Note relevant account assertions.