The starting point for the verification of current-year acquisitions of property, plant, and equipment is normally a client-prepared schedule of all acquisitions recorded in the general ledger during the year.

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It is generally true that the starting point for the verification of current-year acquisitions of property, plant, and equipment is a client-prepared schedule of all acquisitions recorded in the general ledger during the year. This schedule can provide auditors with a list of assets to verify, as well as details about the cost, date of acquisition, and other relevant information. However, auditors may also need to examine supporting documentation, such as purchase orders, invoices, and contracts, in order to verify the accuracy and completeness of the information provided in the schedule.

The Starting Point for the Verification of Current-Year Acquisitions of Property