As part of an operational audit, an auditor compared records of current inventory with usage during the prior two-year period and determined that the spare parts inventory was excessive. What step should the auditor perform first?
A.
Determine the effects of a stock-out on the organization's profitability.
B.
Determine whether a clear policy exists for setting inventory limits.
C.
Determine who approved the purchase orders for the spare parts.
D.
Determine whether purchases were properly recorded.
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KonradK
4 months, 2 weeks ago