the value of land may change in time. there is a risk that there would be a material misstatement on the value of land for a given time. i thought a lot on what control should management bring forth to counter this risk.i also read in study guide that internal control should be implemented such that the reliable information should be produced at any time. i dont have industry exposure, so i could not come with a solution.
what control the management should implement to counter the risk of material mistatement in the value of land?