How is auditing a balance sheet account with low activity

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Reference no: EM133506337

Question: How is auditing a balance sheet account with low activity (EX: Property Palnt & Equipment) different from auditing high turnover accounts (EX: Accounts Receivable)?

1) When auditing the Property Palnt & Equipment why is evaluating whether an expense extends the life of PP&E important?

2) When auditing Long-Term Debt and Equity- why do auditors read the Board of Director Minutes?

Reference no: EM133506337

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