An auditor would be least likely to use external confirmation procedures in connection with the examination of:
A)long-term debt.
B)property, plant and equipment.
C)inventories.
D)issued share capital.

Question

Quizplus · Accepted Answer

External confirmation procedures are less likely to be used for property, plant, and equipment because these assets are physical in nature and their existence and condition are usually verified through inspection rather than through external confirmation. External confirmations are more commonly used for verifying the existence and terms of long-term debt, the existence and rights to inventories, and the details of issued share capital with external parties like creditors, suppliers, or registrars.

An Auditor Would Be Least Likely to Use External Confirmation