Which of the Following Procedures Would an Auditor Least Likely

question 37

Multiple Choice

Which of the following procedures would an auditor least likely perform in planning a financial statement audit?

• A) Coordinating the assistance of entity personnel in data preparation.
• B) Discussing matters that may affect the audit with firm personnel responsible for non-audit services to the entity.
• C) Selecting a sample of vendors' invoices for comparison to receiving reports.
• D) Reading the current year's interim financial statements.

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Definitions:

DRP System

A DRP System, or Distribution Requirements Planning, is a software used in inventory management and logistics planning, focusing on improving the distribution and fulfillment of goods.

Inbound Materials

Raw materials or goods that are being received by a facility from suppliers for the purpose of production or resale.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold or distributed to customers.

Seasonal Stocks

Inventories that are built up in anticipation of predictable changes in demand that occur at certain times of the year.