Which of the following is not a standard procedure that the auditor normally should follow in the observation of inventory at year-end?
A)observe the client taking inventory.
B)make selected test counts and trace into client's inventory compilation.
C)look for slow-moving,obsolete or damaged inventory.
D)review disclosure of inventory valuation.
E)all of the above are standard audit procedures in the observation of inventory.

Question

Quizplus · Accepted Answer

Reviewing the disclosure of inventory valuation is not part of the physical observation of inventory but rather part of the financial statement review process.

Which of the Following Is Not a Standard Procedure That