It is not important for an organization to have controls to track the location,quantity,condition,maintenance,and depreciation status of long-lived assets because the auditor gathers evidence related to these issues.

Question

Quizplus · Accepted Answer

It is important for an organization to have controls to track the location, quantity, condition, maintenance, and depreciation status of long-lived assets to ensure proper management and prevent fraud or misappropriation. While auditors gather evidence related to these issues, it is still necessary for the organization to have internal controls in place.

It Is Not Important for an Organization to Have Controls