ACCA · Question 06 · Audit evidence
CASE 2: GREENYIELD AGRI CO-OP
GreenYield Agri Co-op is a large agricultural cooperative specializing in organic crop production and livestock. You are the audit senior. The year-end is 31 December 2025. GreenYield uses an independent agronomist to value its biological assets. During the year, a new computerized inventory system was implemented. The audit team is planning the inventory count attendance and evaluating the reliability of the agronomist's report.
Regarding the year-end inventory count of livestock, which of the following is the primary responsibility of the auditor?
Answer options:
To organize and conduct the physical counting of the livestock.
To observe management's count procedures, evaluate their effectiveness, and perform test counts.
To determine the fair value less costs to sell of the livestock during the count.
To ensure that all livestock are tagged with RFID chips before the count begins.
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