Andromeda Industries Co (Andromeda) develops and manufactures a wide range of fast moving consumer goods. The companys year end is 31 December 2015 and the forecast profit before tax is $83 million. You are the audit manager of Neptune & Co and the year-end audit is due to commence in January. The following information has been gathered during the planning process:

Inventory count

Andromedas raw materials and finished goods inventory are stored in 12 warehouses across the country. Each of these warehouses is expected to contain material levels of inventory at the year end. It is expected that there will be no significant work in progress held at any of the sites. Each count will be supervised by a member of Andromedas internal audit department and the counts will all take place on 31 December, when all movements of goods in and out of the warehouses will cease.

1) Describe audit procedures you would perform during the audit of Andromeda Industries Co:BEFORE and DURING the inventory counts; and (8 marks)