An auditor acquires background knowledge of the clients industry as an aid to his or her audit

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An auditor acquires background knowledge of the client’s industry as an aid to his or her audit work. How does the acquisition of this knowledge aid the auditor in distinguishing between obsolete and current inventory?

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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0133098235

12th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

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Question Posted: Dec 17, 2015 06:25 AM

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An auditor acquires background knowledge of the clients industry as an aid to his or her audit

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One type of information the auditor obtains in gaining knowledge about t...View the full answer

Auditing The Art and Science of Assurance Engagements

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