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Inventory count

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Inventory count

  • This topic has 5 replies, 2 voices, and was last updated 10 years ago by nari.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • August 23, 2015 at 4:20 am #268183
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    Hello

    If an inventory count of spares (for e.g.) is taking place over a 3 day period, does the auditor have to be present on each of those days? Please provide a reason for the answer.

    August 24, 2015 at 4:43 am #268293
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10607
    • ☆☆☆☆☆

    It depends on materiality, what teams are being used, how well the counts are organised, invovement of internal audit etc.

    August 25, 2015 at 11:59 pm #268534
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    ok, thanks.

    August 26, 2015 at 11:41 am #268597
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    how exactly is the sample size arrived for the count?

    August 26, 2015 at 5:59 pm #268662
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10607
    • ☆☆☆☆☆

    It varies form audit firm to audit firm In an exam, suggest 30.

    August 27, 2015 at 1:46 am #268712
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    ok, thanks

  • Author
    Posts
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