In testing plant and equipment balances, an auditor examines new additions listed on an analysis of plant and equipment. This procedure most likely obtains evidence concerning management's assertion of:

Question

Quizplus · Accepted Answer

By examining new additions listed on an analysis of plant and equipment, the auditor can obtain evidence regarding the existence of the assets. This helps to ensure that the assets actually exist and have been added to the balance sheet, which supports management's assertion of existence. The other assertions, such as completeness, classification, and accuracy, are not directly addressed by this procedure.

In Testing Plant and Equipment Balances, an Auditor Examines New