Question：ISA 500 Audit evidence states that the auditor should obtain sufficient, appropriate evidence.
Which of the following is of least relevance to the auditor when testing for existence of non-current assets:
A. Physically verifying a sample of non-current assets.
B. Reviewing title deeds to property.
C. Reviewing assets capitalised for possible repairs and renewals items.
D. Reviewing the board minutes for details of any disposals during the year.
The correct answer is: Reviewing title deeds to property.
This test provides evidence of ownership. The other three tests are testing the existence of non-current assets, in other words that non-current assets are not overstated.
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