The auditors responsibility is to observe the stock taking process. However, observing the stock taking process implies
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Question:
The auditor's responsibility is to observe the stock taking process. However, observing the stock taking process implies a much more active role for the auditor, than that of a mere spectator.
Required:
i. Explain TWO issues that auditor may face in the verification of inventory.
ii. Discuss the importance of auditor's attendance during the stock process.
iii. Explain TWO responsibilities expected of the auditor during the observation of the stock taking process.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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