Inventory Observations Involve An Auditor Understanding The Company S Planned Co

Inventory observations involve an auditor understanding the company’s planned counting procedures, so that the auditor can conclude the count was adequately planned and executed. You are one of a number of staff auditors observing the inventory taking at a client’s warehouse – the products in the warehouse are retail electronic products (TV’s, stereos, etc). Your test counts indicate that one client counting team is making what appears to be a number of mistakes, both over and under counting. Indicate in one or more paragraphs what you would do as a result of noticing this activity.

Inventory audit issues during audit of a retail business. The very basic requirement of an inventory audit is the categorization of the inventory. Inventory Categorization ismainly done on ABC…

 

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