The Professional Judgment in Context feature at the beginning of the chapter and the Auditing in Practice feature about CMH both describe scenarios whereby people with accounting or auditing responsibilities were lacking the appropriate training or knowledge to conduct their jobs. In a small group in class, assume that you and your classmates were assigned to an audit client and you find yourselves in a similar situation when you arrive to conduct an inventory observation. In particular, you are asked to observe inventory counts of products for which you are unsure of the appropriate measurement technique and are lacking in knowledge of the product itself. The specific setting is a client who uses computerized measurement systems for measuring its oil products that are stored in tanks below the ground. You are uncertain of how the measurement system works and are not able to distinguish between different oil products. The client quickly describes the measurement process and offers to help you identify the different oil products. You are still somewhat unsure of your abilities to conduct this inventory observation.
Required
In your small group, use the seven-step Decision Analysis Framework introduced in Chapter 3 to determine how you should proceed with the inventory observation. Be prepared to discuss your group's answers with the full class following your small group discussion.
Recall that the framework is as follows:

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1 Structure the audit probiem 2. Assess consequencas of 3. Assess risks and uncertaintes of the audit problem 4. Evaluate Intormatonaudit evidence- gathering altematives 5. Conduct sensltvity analysls InformatlorVaud evidence 7 Make dedision about audit problem