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Who counts the inventory?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Who counts the inventory?

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.
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  • February 25, 2017 at 5:34 pm #374181
    saqlainrattansi
    Member
    • Topics: 93
    • Replies: 98
    • ☆☆

    From what I think, the warehouse manager is not independent and so he should not be in charge of the audit

    What about the other warehouse staff? Can they be involved in the counting of inventory ? If not, why not and who would then be responsible for counting the inventory/

    February 25, 2017 at 6:51 pm #374203
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10597
    • ☆☆☆☆☆

    Generally, you need warehouse staff involved with,stockcounts because they know what they are counting. However, they have incentive to cover up errors in stock amounts. The best arrangement is to have a mixed team, one person from the warehouse, one from accounts or internal audit.

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