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inherent risk for PPE

This topic has 2 replies, 2 voices, and was last updated 11 years ago by vivian.

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November 10, 2014 at 3:41 am #208720
vivian
Member
- Topics: 2
- Replies: 3
Can i know what is the inherent risk of material misstatements for the property, plant and equipment?
November 15, 2014 at 8:15 am #210134
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10615
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.
November 16, 2014 at 3:28 am #210308
vivian
Member
- Topics: 2
- Replies: 3
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..
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