Auditors procedures before stock taking, Auditing

Auditors Procedures Before Stock Taking

1) Study of the clients stock taking recommendations and instructions for improvements or changes whether the auditor considers them inadequate.

2) Familiarization along with the location of the opportunity and the stocks to plan for the work to be undertaken.

3) Familiarization along with the volume and nature of stocks and particularly along with high value items.

4) Review of previous year's working study as well as papers and discussions along with the managers of any significant changes from the before such year.

5) Consideration of the position of stocks and likely points of complexity e.g. cutoff.

6) Consideration of any involvement of the extent of reliance and the internal audit department to be located upon their work.

7) Arranging to contain from third parties confirmation of stocks held through them.

8) Establishing where expert advice may be required.

Posted Date: 1/27/2013 11:48:40 PM | Location : United States







Related Discussions:- Auditors procedures before stock taking, Assignment Help, Ask Question on Auditors procedures before stock taking, Get Answer, Expert's Help, Auditors procedures before stock taking Discussions

Write discussion on Auditors procedures before stock taking
Your posts are moderated
Related Questions
Attempts to define True and Fair It must be concluded that there has been slight attempt precisely to define fair and true. The Companies Act needs an auditor to report in

Financial Statements Rely All Financial providers people must be sure that the financial statements can be relied upon. It should be noted that: 1. The auditor himself must be

#Fortex Limited, the meat processing firm, was formed in 1985 from three smaller companies. In 1993, however, after a few years of spectacular growth, the company collapsed. a) S

Internal Audit has been asked by the State to review the activities of The Commission on Workforce Development

Question: Explain the type of audit conducted by the sponsor when he suspects or comes to know that the site will be audited by FDA. A Mention type of audit conducted by the

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 move

Irregularities: Irregularities can be explained as intentional distortions of financial statements for whatever reason and also as misappropriation of possessions whether or no

a. Discover Fifty strengths and Fifty weaknesses after conducting an internal audit of a company. b. What procedures could then be used to determine the most important of these?

how to operate distribute amount and section rate also provision party bill