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Author Question: An auditor must inquire about consigned or customer inventory included on the client's premises to ... (Read 106 times)

xxxxxxxxxxxx

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Question 1

A useful starting point for becoming familiar with the client's inventory is for the auditor to
◦ read the AICPA's Industry Audit Guide.
◦ review accounting theory covering special inventory problems.
◦ read the client's accounting manual.
◦ tour the client's facility.

Question 2

An auditor must inquire about consigned or customer inventory included on the client's premises to satisfy the balance-related audit objective of
◦ cutoff.
◦ classification.
◦ rights.
◦ completeness.


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Marked as best answer by xxxxxxxxxxxx on Aug 21, 2022

kyledifference

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xxxxxxxxxxxx

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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