How to Audit Inventory
Overview
Inventory observations are often a right of passage for audit staff. This course will cover the basics of auditing inventory, including the related audit assertions, risks, & threats to inventory. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through how to conduct a physical inventory observation.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics that will be covered in this course include:
- Auditing Inventory.
- Related Audit assertions, risks, and threats to inventory.
- Substantive auditing procedures that staff should perform.
Prerequisites
None
Designed For
Auditors who may need to audit inventory.
Objectives
After attending this presentation, you will be able to...
- Recall the audit assertions applicable to inventory
- Recognize risks & threats related to the inventory balance
- Identify substantive auditing procedures that are used to obtain comfort over inventory
Preparation
None
Leader(s):
Leader Bios
Jaclyn Veno, CPA Crossings Webinars
<Jaclyn Veno, CPA has extensive experience in accounting, auditing, and adult learning. At Galasso Learning Solutions, she develops highly rated Level Training programs that bring concepts to life through case studies, hands-on activities, and games.Before joining GLS, she worked for two Top 10 CPA firms, managing international teams and overseeing more than 20 acquisition audits. A Clemson University grad with both bachelor’s and master’s degrees in accounting, she also holds certificates in Adult Learning Theory, Instructional Design, and Facilitation.
Non-Member Price $109
Member Price $89