Even when internal control is weak,a significant portion of the audit work on property,plant,and equipment may be performed at an interim date.

Question

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The audit of property, plant, and equipment may involve testing the existence, valuation, and ownership of assets. These procedures can be performed at an interim date even when internal control is weak, allowing the auditor to obtain sufficient evidence to support their opinion. However, the auditor must also consider the risk of material misstatement and perform additional testing as necessary to ensure that the financial statements are free from material misstatement.

Even When Internal Control Is Weak,a Significant Portion of the Audit