In Testing Acquisitions, the Auditor Must Understand the Relevant Accounting

question 2

Essay

In testing acquisitions, the auditor must understand the relevant accounting standards to insure the client adheres to accepted accounting practices for property, plant, and equipment. Describe three of the auditor's concerns in this area.

---

Definitions:

Continental Army

The revolutionary war army established by the Second Continental Congress in 1775, led by George Washington, to fight the British.

Inoculation

The practice of introducing a small amount of disease-causing agent into the body to stimulate the immune system and create immunity against a specific disease.

Pan-Indian Alliance

A unification of various Native American tribes across North America for political or military purposes, often in response to European colonization and expansion.