CAS for Audit Procedures for Inventory Indicate That the Auditor

question 52

Multiple Choice

CAS for audit procedures for inventory indicate that the auditor

• A)must count the inventory.
• B)must be present at the inventory count and must receive adequate documentation from the client regarding the effectiveness of inventory-taking.
• C)must be present at the inventory count and evaluate the methods followed in the determination of quantities and values.
• D)need not be present at the count but must review the methods followed in the determination of quantities and values.

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Definitions:

Capture Listeners' Attention

The act of engaging and holding the interest of an audience through verbal or non-verbal methods during a presentation or speech.

Presentation Introduction

The initial section of a presentation where the topic, purpose, and structure of the talk are outlined to the audience.

Briefing

A concise and informative presentation or document that summarizes the main points of a topic or plan.

Board of Directors

A group of individuals elected to represent shareholders and oversee the major decisions and policies of a company.