Inspection of assets is not a sufficient form of evidence when the auditor wants to determine the
A)existence of the asset.
B)quantity and description of the asset.
C)condition or quality of the asset.
D)ownership of the asset.

Question

Quizplus · Accepted Answer

Inspection of assets can help an auditor verify the existence, quantity, description, and condition or quality of an asset, but it does not provide sufficient evidence regarding the ownership of the asset. Ownership typically requires examination of documents or records.

Inspection of Assets Is Not a Sufficient Form of Evidence