The Existence of an Adequate Storeroom with a Competent Custodian

question 25

Multiple Choice

The existence of an adequate storeroom with a competent custodian in charge results in the orderly storage of inventory and can protect inventory from theft and misuse.How would an auditor assess these controls?

• A)observation during the audit and inquiry of the accounting staff
• B)inquiry of the accounting staff and inspection of theft statistics
• C)observation during the inventory count and inquiry of inventory personnel
• D)inspection of inventory damage statistics and inquiry of inventory personnel

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The act of briefly restating the main findings or outcomes of a discussion, analysis, or research in a concise form.

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