Physical examination of inventory reveals discrepancies with accounting records.This is an application of which of the following five internal audit scope standards?
A)Operating and financial information integrity
B)Policy compliance verification
C)Asset security verification
D)Resource use efficiency
E)Operational effectiveness

Question

Quizplus · Accepted Answer

The physical examination of inventory reveals discrepancies with accounting records, indicating a need for asset security verification, which overlaps with the internal audit scope standard of verifying the safeguarding of assets.

Physical Examination of Inventory Reveals Discrepancies with Accounting Records