If a client intends to count inventory at an interim date, the auditor should expect there to be all of the following except
A) controls over the preparation and maintenance of perpetual inventory records.
B) competent personnel assigned to count the inventory.
C) third-party inventory counting specialists.
D) an adequately designed plan to count the inventory.

Question

Quizplus · Accepted Answer

Third-party inventory counting specialists are not always necessary or expected when a client intends to count inventory at an interim date. However, the auditor should expect there to be controls over the preparation and maintenance of perpetual inventory records, competent personnel assigned to count the inventory, and an adequately designed plan to count the inventory.

If a Client Intends to Count Inventory at an Interim