Management decided to undertake a physical inventory count in resolving a perceived weakness in the Company’s inventory control process. You have been appointed as the auditor of Small Limited. Required: Itemise the duties of the auditor in relation to inventories count under the following headings: Before the count, During the count After the count
Management decided to undertake a physical inventory count in resolving a perceived weakness in the Company’s inventory control process. You have been appointed as the auditor of Small Limited. Required: Itemise the duties of the auditor in relation to inventories count under the following headings: Before the count, During the count After the count
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Management decided to undertake a physical inventory count in resolving a perceived weakness in the Company’s inventory control process. You have been appointed as the auditor of Small Limited.
Required:
-
Itemise the duties of the auditor in relation to inventories count under the following headings:
-
Before the count,
-
During the count
-
After the count
-
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