Option #1: Inventory Observation

YOU ARE SCHEDULED TO BE PRESENT FOR THE INVENTORY OBSERVATION OF ONE OF YOUR MANUFACTURING AUDIT CLIENTS. DURING THE OBSERVATION, YOU NOTICED THE FOLLOWING:

Some of the employees who were counting the inventory stopped to load a truck for shipment.

During test counts, you noticed that the expiration date of a large bin of items was two years old. When you questioned the client, the inventory manager told you that he/she felt the company could still sell the items.

At the end of the day, a large shipment was received. It was not included in the count.

Prepare a report discussing the following:
The procedures you should perform before going on-site for the inventory observation.
Based on this preliminary review of the client’s inventory, you determine that there is a significant risk of material misstatement and/or fraud. Discuss what changes you will make to the normal observation process based on this information.
The procedures you will take to address each of the issues noted during the observation.

Collepals.com Plagiarism Free Papers

Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.

Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS

Why Hire Collepals.com writers to do your paper?

Quality- We are experienced and have access to ample research materials.

We write plagiarism Free Content

Confidential- We never share or sell your personal information to third parties.

Support-Chat with us today! We are always waiting to answer all your questions.