Substantive procedure to confirm valuation of inventory

This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.

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May 30, 2018 at 8:53 pm #454952
talhaferoz
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Dear Sir

Is it an authentic and valid SP to confirm valuation of inventory that Review average inventory days of current year and compare with prior year and discuss variation with management?
May 31, 2018 at 2:57 am #455003
Ken Garrett
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Yes. If inventory days have increased the fear is that stock is ‘sticking’ and won’t sell.
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