Sally has been assigned to the audit of the inventory section of two unrelated companies. The...
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Sally has been assigned to the audit of the inventory section of two unrelated companies. The first cliern Eager Phy Lud sels quainy made ts order tatinetry Iventory comprism of rmerl t to manufacture its existing product range. partialy compieted cabinets and cabinets which have been just finished and awaiting delivery to customers The second client Exclusive Boutique Pry Ltd, is a retailer of exclusive and everyday wines, Its inventory is made up of bottle of wines induding oirent vrtages and age boes eady for d Required: 1. Identify and explain which assertions are at risk. I. Explain which of the twwo clients you would expect Sally to assess as having the higher audit risk Sally has been assigned to the audit of the inventory section of two unrelated companies. The first cliern Eager Phy Lud sels quainy made ts order tatinetry Iventory comprism of rmerl t to manufacture its existing product range. partialy compieted cabinets and cabinets which have been just finished and awaiting delivery to customers The second client Exclusive Boutique Pry Ltd, is a retailer of exclusive and everyday wines, Its inventory is made up of bottle of wines induding oirent vrtages and age boes eady for d Required: 1. Identify and explain which assertions are at risk. I. Explain which of the twwo clients you would expect Sally to assess as having the higher audit risk
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The first assertion that is at risk is that the inventory for E ager P ty Ltd is made up of raw mate... View the full answer
Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Posted Date:
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