5. What is verification of Assets? What are its objects
Answers
Answer:
Verification of asset is the process through which the auditor verifies and examines all the assets that appear in the books of account ( Balance sheet) . the list of assets which are verified includes plant and machinery, furniture and fixture vehicles etc. Objective of verification.
Explanation:
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Explanation:
Verification of asset is the process through which the auditor verifies and examines all the assets that appear in the books of account ( Balance sheet) . the list of assets which are verified includes plant and machinery, furniture and fixture vehicles etc. Objective of verification.
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organization. DEFINITION. According to Spicer and Pegler “The verification of assets implies an inquiry into the value, ownership and title, existence and possession, the presence of any charge on the assets.