Auditing an attestation client's inventory accounts can vary widely in complexity and time required because of which of the following factors? (Select all that apply.) O The level of access the client is willing to provide to physical inventory and the inventory accounts. O What type of inventory the client holds, and the quantities the client holds the inventory in. O Whether the client is a manufacturing entity, a merchandising entity, or a service firm. O Whether the audit is for a publicly or privately traded firm, as generally accepted auditing standards onlyrequire inventory audits for publicly-traded firms.

3) Which of the following audit procedures is a test of control? a. Management providing written instruction to all employees and supervising the monthly inventory stocktake. b. Observing employee compliance with stocktake procedures. c. Picking a sample of goods received notes and ensuring the correct date is recorded in the purchase’s ledger. d. Estimating total sales for a specific product line for the year and comparing actual sales.

Describe one specific substantive audit procedure you would use to test the financial statement assertion you are most concerned with based on your analysis of inventory in the bakery

Q.9.