In auditing intangible assets, an auditor most likely would review or recompute amortization and determine whether the amortization period is reasonable in support of the ASB balance assertion of:
A)valuation.
B)existence.
C)completeness.
D)rights and obligations.

Question

Quizplus · Accepted Answer

The auditor would review or recomputed amortization to support the valuation assertion, which relates to whether the intangible asset is recorded at its appropriate value. The reasonableness of the amortization period also supports the valuation assertion by ensuring that the asset is being appropriately expensed over its useful life. The other assertions listed (existence, completeness, rights and obligations) do not directly relate to the amortization of intangible assets.

In Auditing Intangible Assets, an Auditor Most Likely Would Review