When reviewing accumulated depreciation, the auditor seeks evidence as to the reasonableness, consistency and accuracy of depreciation charges. The substantive procedurperformed 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's review of accumulated depreciation and performance of substantive procedures to obtain evidence on reasonableness, consistency and accuracy of depreciation charges is aimed at supporting the valuation assertion related to property, plant, and equipment.

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