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Instructions for drafting inventory working papers
In order to facilitate the auditors to carry out the inventory supervision procedures, we have listed here how to choose the audit procedures and the contents of the supervision of special inventory for reference.
How to choose an audit program
Auditors shall determine further auditing procedures in accordance with the level of risk of material misstatement of the financial statements as assessed, in conjunction with the requirements of the following table, in order to obtain sufficient and appropriate audit evidence for the end-of-period inventory quantity and status of the audited unit.
Second, the supervision of special inventory
The following table lists the types of special inventory of the audited unit, the common inventory methods and potential problems, and the supervision procedures available to auditors. In the audit practice, auditors should design specific details of special types of inventory supervision disks based on the specific characteristics of the industry in which the audited unit operates, the types and characteristics of inventory, and internal control, and based on general inventory supervision procedures. Audit procedures.