The auditor is always concerned whether slow-moving or potentially obsolete inventory is included in inventory, and whether

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The auditor is always concerned whether slow-moving or potentially obsolete inventory is included in inventory, and whether inventory should be reduced to a lower market value. Identify five substantive audit procedures the auditor might use to determine the existence of obsolete goods or goods whose market value is less than cost.

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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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