CTHIn ForceLegislation
ASA 501 - Audit Evidence - Specific Considerations for Inventory and Segment Information - October 2009
ObjectiveObjective
Start here
Get a plain-English read of Objective
Turn the raw legal text into a practical explanation grounded in ASA 501 - Audit Evidence - Specific Considerations for Inventory and Segment Information - October 2009.
Objective
- The objective of the auditor is to obtain sufficient appropriate audit evidence regarding the:
- Existence and condition of inventory; and
- [Deleted by the AUASB. Refer ASA 502 Audit Evidence—Specific Considerations for Litigation and Claims]
- Presentation and disclosure of segment information in accordance with the applicable financial reporting framework.