In chapter 9, the text mentions that some clients may use “Professional Inventory Teams”.
Answer the following questions and turn-in your assignment by Nov. 1st (11pm).
(1) Do an internet search and list a name of at least one professional inventory company.
(2) Do you believe the auditor’s responsibility changes as it relates to auditing inventory if the client uses a “Professional Inventory Team” rather than its own employees to count inventory?
(3) For the client, what are some disadvantages and advantages to using a professional inventory company?
