Chapter 13 Flashcards
1
Q
what must the audit approach consider with regards to the inventory
A
qauntity and valuation
2
Q
what is ISA 501
A
Auditor must attend the stock count
3
Q
who must be in overall control of a stock count
A
finance team
4
Q
can warehouse manager be involved at all
A
no
5
Q
why cant the warehouse manager be involved
A
he could manipulate the count and cover up fraud
6
Q
can warehouse staff be involved in the count
A
yes
