Vouching the acquisition of assets is an audit procedure that is often performed to establish the existence of the assets.

Name: Vouching the acquisition of assets is an audit procedure that is often performed to establish the existence of the assets.
Brand: Quizplus
Rating: 4.8 (29 reviews)

Question

Quizplus · Accepted Answer

Vouching the acquisition of assets involves examining documentary evidence to verify that the assets actually exist and were acquired by the company. This is a common audit procedure used to test the existence and ownership of assets.

Vouching the Acquisition of Assets Is an Audit Procedure That