Senior Assurance

Senior Assurance Interview Questions and Answers

Updated 25 Aug 2022

Q1. Audit procedure of inventory ,subsequent events

Ans.

Audit procedure of inventory and subsequent events

  • Obtain inventory listing and reconcile with general ledger

  • Inspect inventory for damage, obsolescence, and valuation accuracy

  • Review subsequent events for any impact on inventory valuation

  • Evaluate management's estimates and assumptions related to inventory

  • Consider the impact of any changes in accounting policies or procedures

  • Test the accuracy of inventory counts and cutoff procedures

  • Review purchase orders, receiving reports, and...read more

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