1) Internal auditing is going to be performing an assurance engagement dealing with controls over production, shipping, and inventory. Some of the items to be covered in the engagement include: Determine if there is an issue with excess, obsolete or unsaleable inventory. • Determine If there have been issues with accuracy of the inventory quantities in the computer system • Determine if there are issues with late shipments or errors in what material is being shipped to customers. • Determine if there are material issues with the quality of the company's finished products.
1) Internal auditing is going to be performing an assurance engagement dealing with controls over production, shipping, and inventory. Some of the items to be covered in the engagement include: Determine if there is an issue with excess, obsolete or unsaleable inventory. • Determine If there have been issues with accuracy of the inventory quantities in the computer system • Determine if there are issues with late shipments or errors in what material is being shipped to customers. • Determine if there are material issues with the quality of the company's finished products.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle
Section: Chapter Questions
Problem 30RQSC
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