- 1 Marks
AA – L2 – SA – Q4.7 – Financial Statement Assertions
Assertions for non-current asset procedures.
Question
Identify which financial statement assertion is addressed for each of the below substantive procedures performed on a non-current asset schedule (which agrees to the financial statements).
- Confirming whether the costs on the schedule are correct
- Tracing items from the non-current asset register to the schedule
A Existence
B Accuracy and valuation
C Completeness
D Accuracy
E Existence
F Completeness
Find Related Questions by Tags, levels, etc.
- Tags: Assertions, ICAG, Non-current Assets, Substantive Procedures
- Level: Level 2
- Topic: Audit and Assurance Evidence
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