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What possible tests could P Tchaikovsky perform

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Question - Tchaikovsky is an independent auditor who is reviewing the financial statements of Stravinsky Corporation. The inventory account is listed as having a balance of $354,000 on December 31, Year One. Answer the following questions related to P. Tchaikovsky's work.

Who is responsible for proving the $354,000 balance in inventory is correct

If the inventory balance is the responsibility of Stravinsky Corporation, what responsibility does P. Tchaikovsky have?

What is the inherent risk of inventory being reported at $354,000?

What possible tests could P. Tchaikovsky perform to gain the assurance that inventory is accurately reported at $354,000?

Reference no: EM133150994

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