Fanfare CPA Firm is currently completing the auditit engagement for Shoefit Enterprises LLC. a nationat...
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Fanfare CPA Firm is currently completing the auditit engagement for Shoefit Enterprises LLC. a nationat provider of a wide range of shoes which are distributed through stores all over the country. Which of the following would best represent an area of higher inherent risk for the auditors? As consumer tastes and preferences in this area change rapicly, the inventory being stocked in the stores mav fast become obsolete. It inay be mote challenging to audit the dient's specinc revenue accosants due to the large range of minchandise they sell. The dechntralized structure of the client'soperations, whichimay make auditing the irventory accounts more challerising. Due to its location in the stores, imentory may be more casily stolenby employces and yisitors to the store
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