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The objectives of an auditor with regard to the verification of assets include: (i) Assets exist: The auditor's objective is to confirm that the assets recorded in the financial statements actually exist and are tangible assets that can be verified. (ii) Assets belong to the client: The auditor aims to ensure that the assets are owned by the client and not by any other entity or individual. This involves verifying legal ownership and title to the assets. (iii) Assets are in possession of the client: The auditor's objective is to confirm that the assets are physically in the possession of the client and not held by any third party. (iv) Assets are not subject to undisclosed encumbrances or liens: The auditor seeks to determine whether there are any undisclosed encumbrances or liens on the assets, such as mortgages, pledges, or other forms of security interests that could affect the client's ownership or rights over the assets.
Attorney-generals from 16 states condemned the ban yesterday and were discussing whether to challenge the administration in court.
Direction: In the following question, a sentence is given, divided into 5 parts. Part (E) is grammatically correct. Out of the other four parts, one pa...
Directions: The following sentences are divided into parts. Identify if there is any error in any of the parts. If there is an error, choose the lette...
It calls for the importance of reskilling in order to prepare current and future workforces for the job of the future.
Rise in the water level in the village and adjoining areas has laid to waterlogging and destruction of standing crops in the village.
In the following questions, some parts of the sentences have errors and some are correct. Find out which part of a sentence has an error. The number of...
Given below are sentences with an error in each. The error is in one part of the sentence. Below each sentence are given the options containing the par...
A well-developed corporate bond market provides additional avenues to corporate for rising funds in a cost effective manner and reduces reliance...
Of the four given options, choose the most appropriate one.
I’ve got abusydaytomorrow, so IthinkI’ll hit thesack.