Senior Assurance Interview Questions and Answers

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