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Hi all….
The below was from a multiple choice:
1) Tracing Inventory tags to the Listing of inventory = Existence
The below is from the Becker book:
2) “The auditor should test the existence of the items on the client’s inventory listing/report sheets by vouching a sample of items from the inventory listing/report sheet to the corresponding inventory tags”
To me statements 1) & 2) above are opposing each other. Can someone explain which is correct for the existence assertion PLEASE???
October 2011-May 2013. Did not loose any credit!!
AUD - 73, 79
REG - 86
FAR - 72, 83
BEC - 80, last one, DONE!!
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