Damaged inventory

This topic has 1 reply, 2 voices, and was last updated 9 years ago by Ken Garrett.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
June 4, 2016 at 2:58 pm #319337
saajan
Member
- Topics: 12
- Replies: 76
Sir please let me know whether my following procedures regarding DAMAGED INVENTORY are correct.

1) Obtain a schedule of damaged inventory and cast to verify arithmetic accuracy.
2) Discuss with management the basis to which they have estimated the amount of damaged stock.
3) Obtain written representation from management acknowledging that the company’s going concern status is still valid.
June 4, 2016 at 6:51 pm #319398
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10660
You asked the same question on 31 May and I answered it then.

Your third point, above, is irrelevant to auditing damaged inventory.
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

The topic ‘Damaged inventory’ is closed to new replies.