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

When auditing intangible assets, the auditor needs to verify the valuation assertion, which determines whether the recorded value of the intangible asset is true and accurate. To verify this assertion, the auditor will review or recompute amortization and determine whether the amortization period is reasonable. If the amortization period is not reasonable, it may result in an over or underestimation of the intangible asset's value, affecting the valuation assertion. Therefore, the correct answer is A) Valuation.

In Auditing Intangible Assets,an Auditor Most Likely Would Review or Recompute