In determining the reasonableness of the client's amount for depreciation expense the auditor is primarily concerned that the client has followed a consistent policy and the calculations are correct. Which of the following audit objectives best addresses the above concerns?
A) existence
B) accuracy
C) valuation
D) allocation

Question

Quizplus · Accepted Answer

The audit objective of accuracy best addresses the concerns regarding the consistency of policy and correctness of calculations in determining the reasonableness of depreciation expense amount. The objective of accuracy involves verifying the arithmetical accuracy and correctness of financial statement amounts and disclosures.

In Determining the Reasonableness of the Client's Amount for Depreciation