Observing inventory counts virtually

Because of the COVID pandemic, auditors with audit clients that have material inventories are trying to decide whether and how they can audit those inventories and particularly, whether they can remotely observe inventory counts in a manner that will provide them persuasive evidence. AU-C 501, Audit Evidence – Specific Considerations for Selected Items, specifically paragraphs 11-14, indicate that the auditor should attend physical inventory counting unless impractical. Clearly the COVID pandemic and related travel and social gathering restrictions can make