Question: Analyze some common internal controls over inventories. Explain the significant inherent risks associated with inventory. Explain the process of physical inventory counts and the auditors

  • Analyze some common internal controls over inventories. Explain the significant inherent risks associated with inventory. Explain the process of physical inventory counts and the auditors observation of this process.
  • Describe common substantive procedures used to audit a clients property, plant, and equipment. How is depreciation audited? How are intangible assets audited?

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