An internal auditor is assessing the value of inventory in the financial accounts by reviewing the results of an inventory stock count. Which of the following statements is true regarding this approach to collecting evidence?
A.
Although the auditor did not physically observe the stock count, the results can be considered reliable.
B.
The stock count results offer sufficient information for the auditor to assess the inventory.
C.
The results of the stock count may be considered relevant information for the purpose of this review.
D.
Tracing the stock count records to the stock items would achieve greater reliability.
The results of the stock count provide pertinent information about the inventory levels and values, making them relevant to the auditor's assessment. However, simply reviewing the results without physically observing the count or tracing the records to stock items may limit the reliability of the evidence.
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emtofid
4 months, 1 week ago