Which one of the following procedures would not be appropriate for an auditor in discharging his responsibilities concerning the client's physical inventories?
A) confirmation of goods in the hands of public warehouses
B) supervising the taking of the annual physical inventory
C) carrying out physical inventory procedures at an interim date
D) obtaining written representation from the client as to the existence, quality, and dollar amount of the inventory
Correct Answer:
Verified
Q114: When the client's perpetual inventory master files
Q115: When may auditors observe the physical inventory
Q116: To test for proper sales cutoff, an
Q117: A common source of business risk for
Q118: Auditing standards recommend that auditors observe physical
Q120: Auditors need to understand the client's physical
Q121: The auditor traces inventory tags identified as
Q122: A major source of cutoff information for
Q123: If an auditor were concerned with obtaining
Q124: When performing price tests for purchased inventory,
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