When reviewing accumulated depreciation, the auditor seeks evidence as to the reasonableness, consistency and accuracy of depreciation charges. The substantive procedures performed seek to provide evidence for which assertion?
A) valuation.
B) completeness.
C) rights and obligations.
D) presentation and disclosure.

Question

Quizplus · Accepted Answer

The auditor reviews accumulated depreciation to ensure that depreciation charges are calculated correctly, applied consistently, and reflect the true value of the assets, which directly relates to the valuation assertion.

When Reviewing Accumulated Depreciation, the Auditor Seeks Evidence as to the Reasonableness