Price:
R293.94 (VAT Incl.)
Level:
Auditors
Sub-level:
Auditing
Lecturer:
Yvonne Rossouw
Duration:
90 Minutes
Additionals:
R293.94 (VAT Incl.)
Level:
Auditors
Sub-level:
Auditing
Lecturer:
Yvonne Rossouw
Duration:
90 Minutes
Additionals:
CPD Assessment
Certificate
Certificate
Lesson Outline
The stock count is an important part of inventory testing, without which it would be difficult to verify the completeness and existence of inventory. These stock counts are usually performed by Junior team members who are ill prepared for the task, and as such can cause deficiencies on your audit file.
Ensure that your team members are fully prepared for any stock count by joining us for this session. We will discuss the importance of preparing for a stock count and what needs to be done and documented on the day of the stock count to ensure that there are no need for follow ups later during the audit.
• Assertions addressed during the stock count
• Preparing for the stock count
o Materiality to use
o Sample sizes
o Understanding your client
• What do you need for the stock count?
• What to do on the say of the stock count
• Addressing differences in the count
• The importance of extrapolation
• The impact of COVID on stick takes
Ensure that your team members are fully prepared for any stock count by joining us for this session. We will discuss the importance of preparing for a stock count and what needs to be done and documented on the day of the stock count to ensure that there are no need for follow ups later during the audit.
• Assertions addressed during the stock count
• Preparing for the stock count
o Materiality to use
o Sample sizes
o Understanding your client
• What do you need for the stock count?
• What to do on the say of the stock count
• Addressing differences in the count
• The importance of extrapolation
• The impact of COVID on stick takes