From the auditor's point of view,inventory counts are more acceptable prior to the year-end when:
A)Internal control is weak.
B)Accurate perpetual inventory records are maintained.
C)Inventory is slow-moving.
D)Significant amounts of inventory are held on a consignment basis.

Question

Quizplus · Accepted Answer

Accurate perpetual inventory records provide assurance about the existence, completeness, and accuracy of inventory balances. This makes inventory counts more acceptable prior to year-end because it helps auditors to assess the level of inventory accuracy and identify any issues that may require further attention.weak internal control, slow-moving inventory, and consignment inventory do not necessarily have an impact on the audit timing for inventory counts.

From the Auditor's Point of View,inventory Counts Are More Acceptable