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Forums › ACCA Forums › ACCA AA Audit and Assurance Forums › inherent risk for PPE
Can i know what is the inherent risk of material misstatements for the property, plant and equipment?
Generally PPE are quite low on inherent risks. However:
Theft, eg laptops and smart phones
Wrong depreciation rate assigned or applied
Negative NBV
Not recognising impairment.
third party can be an issue for the inherent risk?
for example, a company sell machine to their own cousin at the price which is lower than the market value.
but i don’t know how to elaborate the assessment risk of material misstatement..