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The Auditor has agreed a sample of non current assets selected by physical inspection back to the non-current asset register
For which assertion does this test provide assurance ?
1. Completeness
2. Existence
3. Rights & obligations
4. Accuracy & Valuation ?I would go for completeness.
Says nothing about rights and obligations or accuracy and valuation. For existence I would go the other way – pick assets from the register and trace to physical assets.
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