Which of the following procedures would an auditor least likely perform before the balance sheet date?
A)Assessment of inherent risk.
B)Observation of merchandise inventory count.
C)Assessment of control risk.
D)Identification of related parties.

Question

Quizplus · Accepted Answer

Observation of merchandise inventory count typically occurs close to or on the balance sheet date, as it provides the most accurate information about the inventory balance at that point in time. The other procedures listed could have been performed earlier in the audit process, as they involve assessing or identifying risks and controls that could impact the financial statements.

Which of the Following Procedures Would an Auditor Least Likely