The statement about audit strategy for property, plant, and equipment that is inaccurate is
A) for depreciation and accumulated depreciation inherent risk is affected by the difficulty in estimating both useful lives and residual value.
B) although material, verification of PPE typically involves significantly less time and cost than verification of current assets.
C) unlike current asset accounts, control risk assessments for PPE asset balances are less dependent on controls over major transaction classes.
D) None of the above statements is inaccurate.

Question

Quizplus · Accepted Answer

All the statements provided about audit strategy for property, plant, and equipment are accurate, reflecting common considerations and challenges in auditing these types of assets.

The Statement About Audit Strategy for Property, Plant, and Equipment