Inquiry and scanning The auditor asks operating management and personnel about actual
additions and retirements. Inquiries to executive management may reveal where revaluations
have taken place. The auditor also asks about decisions, such as adding or discontinuing a
product or a line of business or revaluing a class of assets, that affect additions and retirements
or an asset valuation. A scan of the accounting records for miscellaneous revenue resulting
from the sale of retired equipment may be undertaken in circumstances where the auditor
considers that this amount may be potentially material.