Question
QUESTION 3 a. Discuss the controls that could be implemented over stock to ensure that the objectives are met. Your discussion should be under the
QUESTION 3
a. Discuss the controls that could be implemented over stock to ensure that the objectives are
met. Your discussion should be under the following headings:
i. Receiving and recording. (15 marks)
ii. Valuation and protection of stock. (15 marks)
b. In response to (a) above, explain the limitations of the internal controls. (10 marks)
c. Explain the assertions made about inventory when they are presented in the financial
statements.
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Internal Auditing Assurance And Advisory Services
Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle
3rd Edition
0894137409, 978-0894137402
