Short Answer
Using the terms below, complete the following extract from paragraph A17 of ISA500 referring to observations of inventory counts:
1. analytical data
2. audit evidence
3. audit staff
4. others
5. point in time at
6. year in
-Observation consists of looking at a process or procedure being performed by ________________ …. Observation provides ________________ about the performance of a process or procedure, but is limited to the ________________which the observation takes place.
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