What procedures are followed to audit inventory when the physical inventory is taken on a cyclical basis

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What procedures are followed to audit inventory when the physical inventory is taken on a cyclical basis or on a statistical plan but never as a complete count on a single date?

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Auditing An International Approach

ISBN: 978-0071051415

6th edition

Authors: Wally J. Smieliauskas, Kathryn Bewley

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Question Posted: Jan 09, 2015 09:38 AM

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What procedures are followed to audit inventory when the physical inventory is taken on a cyclical basis

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In this type of situation the auditor will arrange to be present during one more o...View the full answer

Auditing An International Approach

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