Auditors procedures after stock taking, Auditing

Assignment Help:

Auditors Procedures After Stock Taking

It is particularly a follow up exercise and it includes:

1) Checking the cut off along with the details of last numbers of stock movement forms and goods outward and goods inward notes after the year and end while the year.

2) Ensuring about the final stock sheets have been simply prepared from the count records. He must specifically check which all the forms issued were returned.

3) He should verify the final stock sheets for pricing, casting, extensions, summarization and the essential improvement.

4) The attendance and follow up any notice made.

5) Showing the management of any problems in stock taking exercise so because they can act accordingly.


Related Discussions:- Auditors procedures after stock taking

Long term contracts - audit process, Long Term Contracts - Audit Process ...

Long Term Contracts - Audit Process The authoritative document with reference to long term contracts is IAS 11: Construction Contracts and IAS 18: Revenue Recognition, and ISA

Corporate governance, what are requirements for a company to comply with ki...

what are requirements for a company to comply with king code?

Conformity and conservatism - external auditor report, Conformity and Conse...

Conformity and Conservatism - External Auditor Report Conformity Although the user of the accounts expects the accounts to conform to general accepted accounting princi

Analyses of audit effort, Develop a list of tasks the auditor should perfor...

Develop a list of tasks the auditor should perform in planning this audit engagement, before any audit testing begins. Ans: It is in the interest of both client and auditor t

Control Document, What are the strength of Stock transfer note

What are the strength of Stock transfer note

Audit procedures for obtaining audit evidence, AsList and define five audit...

AsList and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and observation? (iii) What is the dif

Audit planning, What document usually forms the basis of the audit team bri...

What document usually forms the basis of the audit team briefing?

Audit of partnerships, Audit of Partnerships The audit of a partnership...

Audit of Partnerships The audit of a partnership is not normally required by statute and so the auditor must agree with the client what his rights and duties are going to be. T

Audit Procedures - Intangible Assets, Audit Procedures - Intangible Assets ...

Audit Procedures - Intangible Assets The auditor's process as far as goodwill is relating would involve as: a) Vouching for details as per the buy agreement of the values

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd