Entities frequently maintain a capital asset register as a subsidiary ledger detailing individual items of PPE. Which of the following would an auditor not expect to find in a capital asset register?
A) cost and accumulated depreciation
B) the date of previous audit inspections
C) serial number and supplier
D) insurance cover

Question

Quizplus · Accepted Answer

The date of previous audit inspections would typically be documented in the auditor's working papers or in a separate audit trail, rather than in the entity's capital asset register. The other options (cost and accumulated depreciation, serial number and supplier, insurance cover) are common details that would be expected to be found in a capital asset register.

Entities Frequently Maintain a Capital Asset Register as a Subsidiary