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Cloud 9 - Continuing Case Answer the following questions based on the information for Cloud 9 presented in the appendix to this text, as well as the current and earlier chapters. You should also consider your answers to the case study questions in earlier chapters. You have obtained the following information about property, plant, and equipment for Cloud 9. Required 1. Occurrence of disposals of property, plant, and equipment. a. You are auditing the acquisition of property, plant, and equip- 2. Accuracy of disposals of property, plant, and equipment. ment. Explain the audit procedures to audit the following 3. Completeness of disposals of property, plant, and assertions. equipment. 1. Occurrence of acquisitions of property, plant, and equipment. c. How does auditing the disposals of property, plant, and 2. Accuracy of acquisitions of property, plant, and equipment. equipment provide evidence related to depreciation expense? 3. Completeness of acquisitions of property, plant, and d. You select the following sample of acquisitions of property. equipment. plant, and equipment. What can you conclude about the acquisitions of property. plant, and equipment from this b. You are auditing the disposals of property, plant, and equipevidence? Tolerable misstatement for property, plant, and ment. Explain the audit procedures to audit the following equipment is $1 million. assertions

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