Eilday May $9($i$)$

General Pattern of Procedures$-$inventory

Read the overview below and complete the activities that follow.

When auditing inventory and cost of goods sold, auditors select the most appropriate procedures for the audi typically follow the same general pattern.

Put the general steps of the audit process for inventory in the correct order.

Assess the risks of material misstatement and

design further audit procedures

Perform substantive audit procedures

$$ Perform tests of controls

Use the understanding of the client and its emeroment to irverbores and cost of goods sold

Ceciin an understanding of internal control over inventories and cost of goods soid

Reset

$\backslash$table$[[$Step One,$],[$Step Two,$],[$Step Three,$],[$Step Four,$],[$Btep Five,$]]$

Prox ${11}^{60}12$ of $25$ m

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