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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