A combined approach should be taken, as the auditor can still rely on controls for the property, plant, and equipment cycle. What is the best course of action for the auditor?
1) Perform a full audit of the property, plant, and equipment cycle
2) Rely solely on controls for the property, plant, and equipment cycle
3) Take a combined approach and rely on controls for the property, plant, and equipment cycle
4) Skip the audit of the property, plant, and equipment cycle