Inventory is a large part of the auditing process for companies with physical goods. Inventory is a substantial portion of total assets for many companies. In addition, there are many complex ...

Auditors spend a substantial amount of time testing inventory because it usually makes up a large portion of company assets. Many auditors maintain a physical inventory count checklist of items to ...

The widespread use of information technology (IT) can introduce various risks that affect financial reporting and the audit process. To assist auditors in identifying and addressing these risks, the ...

Inventory systems can make or break your business, and effective controls help provide visibility as to what you have, what you need, what you don’t need and costs. But bad procedures can lead to ...

Correction: A previous version of the story listed the audit meeting for 8 a.m. Wednesday. The meeting is taking place on Tuesday and the file will be updated with information from the discussion. A ...