Accounting · Audit Evidence
Which of the following statements are true regarding the auditor's attendance at the inventory count? 1. It is the auditor's responsibility to organize the inventory count. 2. The auditor observes client staff to determine whether inventory count procedures are being followed. 3. The auditor reviews procedures for identifying damaged, obsolete, and slow-moving inventory. 4. If the results of the auditor's test counts are not satisfactory, the auditor should insist that the inventory is recounted.
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