56 A CPA firm in testing the entance assertion for hvertory. The inventory balance represents a material amount of total satsan the balance sheet. The fece sa perpetual inventory system to account for inventory and performs cyce counts throughout the year. The cinema audit staff observe and for these de counts For the current year, the adjunts made to the inventory balance based on the courts have been material. The client des plan to perform a physical inventory court of the end of the year. Based on this information the auditors have decided to perform bitartetting of invertory at year and rather than storm Why was thin dechon mada The interim procedures could be performed by an internal auditor The assessed risk of a material misstatement is high The inventory existence assertion is required to be performed at year-end The internal controls and the control environment are effective