physical inspection

physical inspection
The careful *examination of a *tangible asset. Physical inspection is an important means of gathering and *evaluating *audit evidence for inventory, *property plant, and equipment, and other assets. It is a form of *substantive testing. The term is often used synonymously with *physical verification.

Auditor's dictionary. 2014.

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  • physical inspection — official inspection of a person s physical condition (Medical) …   English contemporary dictionary

  • inspection — A careful *examination. Inspection is central to the gathering and *evaluation of *audit evidence. See also *physical inspection …   Auditor's dictionary

  • physical verification — The *examination of a *tangible asset in order to obtain evidence of its existence and condition. The term is often used synonymously with *physical inspection. See also Verification …   Auditor's dictionary

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  • inspection — noun ADJECTIVE ▪ careful, close, detailed, rigorous, thorough ▪ full ▪ brief, casual, cursory …   Collocations dictionary

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