In performing a search for unrecorded retirements of fixed assets, an auditor most likely would

Question

Quizplus · Accepted Answer

Inspecting the property ledger and the insurance and tax records would provide the auditor with information on the existence and disposition of fixed assets. Touring the entity's facilities would allow the auditor to physically observe the fixed assets and identify any retirements that have not been recorded. Analyzing the repair and maintenance account may provide some information, but it is not as relevant to identifying unrecorded retirements as inspecting the property ledger and touring the facilities. Therefore, choice A is the best option.

In Performing a Search for Unrecorded Retirements of Fixed Assets