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One very useful method of auditing depreciation is to use an analytical procedure to test for reasonableness. Determine each statement is true .
We auditors often use extensive analytical techniques when auditing depreciation. if the risk is high in this area and we conclude that it cannot be depended upon, the test of details may be necessary in place of the internal control. In accounting or auditing, depreciation is the process a firm employs to disperse the cost of a fixed asset over the asset's useful life. When we audit depreciation, we may need to be aware of a number of regularly utilized depreciation procedures for fixed assets. The economic value that the item provides to the company determines the spreading cost. Examples of depreciation strategies include the declining balance, units of production, and sum of the following.
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