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An Auditor Would Vouch Inventory on the Inventory Status Report

question 66

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An auditor would vouch inventory on the inventory status report to the vendor's invoice to obtain evidence concerning management's balance assertions about


Definitions:

Automatic System

Part of the cognitive system that is fast, unconscious, and requires minimal effort, as opposed to the effortful, conscious processing system.

Deliberate System

The deliberate system, in psychological theory, refers to one of two systems of thinking: slower, more rational, and conscious thought processes that require effort and deliberation.

Automatic Mind

The aspect of cognitive processing that functions without conscious thought, often responsible for habits, gut reactions, and quick decisions.

Conscious Mind

The aspect of the mind that is aware of one's environment, thoughts, feelings, and experiences at the present moment.

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