During the course of an audit of a company's financial statements, an auditor will be concerned that the company's inventory:

Question

Quizplus · Accepted Answer

The auditor will be concerned that the company's inventory physically exists as stated on the financial statements and that it is valued correctly. These are two critical assertions related to inventory that the auditor needs to verify during the audit process to ensure the accuracy and reliability of the financial statements.

During the Course of an Audit of a Company's Financial