Describe three ways that the auditors obtain evidence

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Reference no: EM133475209

Case: Plant and equipment are not as inherently risky as are other assets, such as inventories and accounts receivable. However, a company should still endeavor to maintain effective internal control over plant and equipment.

Question 1: Describe the principal purpose of internal controls relating to plant and equipment.

Question 2: List and describe four major controls applicable to plant and equipment.

Question 3: Describe two ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of property (land).

Question 4: Describe three ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of equipment.

Reference no: EM133475209

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