Which of the following is a significant audit concern related to the transfer of inventory from one location to another?
A) Recorded transfers occurred.
B) Transfers were properly transported.
C) Transfers were properly planned.
D) Transfers represent efficient movement of assets.

Question

Quizplus · Accepted Answer

The significant audit concern related to the transfer of inventory from one location to another is to ensure that recorded transfers occurred. This is to ensure that the inventory is properly accounted for and that there is no risk of theft or loss during transit. While proper transport, planning, and efficient movement of assets are important considerations, they are not as critical as ensuring that recorded transfers have occurred.

Which of the Following Is a Significant Audit Concern Related