During the observation of the inventory count, the auditor has no responsibility to
A) watch for damaged and obsolete inventory items.
B) make some test counts of inventory quantities.
C) supervise the taking of the inventory.
D) The auditor has responsibility for all of the above.

Question

Quizplus · Accepted Answer

The auditor does not have the responsibility to supervise the taking of inventory. The entity's management is responsible for taking and supervising the inventory count. However, the auditor should observe the inventory count, make test counts, and watch for damaged and obsolete inventory items.

During the Observation of the Inventory Count, the Auditor Has