The Auditors Will Usually Trace the Details of the Test

Multiple Choice

The auditors will usually trace the details of the test counts made during the observation of the physical inventory taking to a final inventory schedule.This audit procedure is undertaken to provide evidence that items physically present and observed by the auditors at the time of the physical inventory count are:

A) Owned by the client.
B) Not obsolete.
C) Physically present at the time of the preparation of the final inventory schedule.
D) Included in the final inventory schedule.