Completeness of property, plant and equipment is usually not a major issue for most entities because:
A) completeness tests tend to focus on the potential understatement of fixed assets.
B) the auditor is typically most concerned with the overstatement of assets.
C) both a and b
D) none of the above.

Question

Quizplus · Accepted Answer

Completeness tests focus on understatement, but auditors are more concerned with overstatement, making completeness less of an issue.

Completeness of Property, Plant and Equipment Is Usually Not a Major