Under ISA 501, what is the auditor's primary purpose in attending the client's physical inventory count?

Correct answer: C) To obtain evidence about the existence and condition of inventory and to evaluate management's counting procedures

Explanation

Attendance allows the auditor to evaluate management's instructions and procedures, observe their performance, inspect inventory and perform test counts. The count is management's responsibility, and the auditor should not take on a management role. NRV is assessed separately using after-date sales evidence.