- This topic has 1 reply, 2 voices, and was last updated 9 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Verify that any inventory held for third parties is not included in the year-end inventory figure by being appropriately segregated during the invent
Confirm that any inventory held at third-party locations is included in the yearend inventory figure by reviewing the inventory listing
Can above two procedures be appropriate for right/obligation assertion of inventory
Rights = ownership here.
The first test will help to exclude inventory not owned.
I think the second one really looks at completeness. Ownership could be checked by seeing relevant orders, grns and invoices.
Also, it is not clear how the inventory listing is obtained – it might also omit inventory held elsewhere.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.