With respect to property, plant, and equipment, in the first audit engagement, evidence must be obtained as to the fairness of the opening balancand the ownership of the assets making up the balances, whereas in a recurring engagement, the auditor concentraton the current year's transactions.

Question

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In the first audit engagement, the auditor must obtain evidence related to the fairness of the opening balance and ownership of the assets. In a recurring engagement, the auditor focuses on the current year's transactions.

With Respect to Property, Plant, and Equipment, in the First