You are the auditor of Pegasus Limited (Pegasus), a resources mining company. Pegasus owns and...
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You are the auditor of Pegasus Limited (Pegasus), a resources mining company. Pegasus owns and maintains a large fleet of trucks to transport mineral ore across Western Australia. During trialling of self-driving trucks that were introduced to the companys fleet during the year, a major accident occurred when the self-driving trucks were being loaded, resulting in destruction of one of the trucks, significant damage to the other trucks as well as loss of a significant amount of mineral ore. Which of the following accounts and assertions is LEAST likely to represent a risk in the audit of Pegasus?
Select one:
a.
Property, Plant and Equipment: Existence
b.
Property, Plant and Equipment: Accuracy, Valuation and Allocation
c.
Inventory: Completeness
d.
Inventory: Existence
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