. Inventory management in corporations identifies managements practices, investigate efficient and effective inventory management approaches, and efficient and effective inventory management practices, which are key points for an auditor to ensure evidences for an opinion in the audit report on inventory.Imagine that you are an auditor of a corporation in KSA and answer the following:Answer (5Marks)Q2. What are the control purposes and management assertions supported by bank reconciliations?
Q1. Inventory management in corporations identifies managements practices, investigate efficient and effective inventory management approaches, and efficient and effective inventory management practices, which are key points for an auditor to ensure evidences for an opinion in the audit report on inventory.Imagine that you are an auditor of a corporation in KSA and answer the following:Answer (5Marks)Q2. What are the control purposes and management assertions supported by bank reconciliations? (Chapter 16)Answer (3 Mark)Q3. The standard unqualified report is issued when the auditor has gathered sufficient evidence, the audit has been performed in accordance with PCAOB standards, and the financial statements conform to GAAP.Required:Take an example of a corporation from KSA and explain the important elements necessary for a standard unqualified report issued by an auditor in reporting of financial statements. Give examples on each element. (Chapter 18)Answer (4 Mark)Q4. Briefly explain Assurance Services, Attest services and Trust Services. (Chapter 21)the book
