In testing the existence assertion for an asset, an auditor ordinarily works from the

In testing the existence assertion for an asset, an auditor ordinarily works from the

Answer: Accounting records to the supporting evidence. (The existence assertion concerns whether assets, liabilities, or equity interests of the entity exist at a given time. The direction of testing is ordinarily from the accounting records to the supporting evidence, often including direct observation of the asset. Thus, the auditor selects from items contained in a financial statement amount and searches for appropriate (relevant and reliable) evidence that is sufficient.)