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Auditors Should Obtain Evidence That There Are No Significant Amounts

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Essay

Auditors should obtain evidence that there are no significant amounts of unrecorded retirements of property,plant,and equipment.
a.Describe two ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of property (land).
b.Describe three ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of equipment.

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Definitions:

Normal

Refers to something conforming to a standard; typical or expected under specific conditions.

Bootstrap Methods

Statistical techniques that involve resampling with replacement from an observed data set to generate a sampling distribution and estimate properties of an estimator.

Small Sample

A small sample refers to a subset of data or observations that is considered insufficient in size to represent the whole population adequately for statistical analysis.

Traditional Methods

Conventional or long-established techniques or practices used in a particular field or profession.

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