Inventory count attendance
Inventory count attendance involves the auditor being present at physical inventory counting when required and practicable, evaluating management’s instructions and procedures, observing their performance, inspecting inventory and performing test counts.
Worked example
The auditor observes the count, selects items from floor to records and from records to floor, and notes cut-off information.
Common mistake
Attendance alone does not establish ownership, valuation or every count assertion without additional work.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |
| ACCA | AAA (INT) | Direct | September 2026–June 2027 |