Auditing Inventory - Part 1

Authored by Joanne Flood, CPA-MBA
About this Course
In this course you will be participate in a typical inventory observation. Through a series of video clips, you'll see how an observation should be designed and executed and, you'll be given the chance to apply this knowledge to a real-life case study. The knowledge you acquire will enable you to: evaluate whether your client's inventory count is well-planned, determine what steps management should take to ensure an accurate count, and figure out what, if anything, is missing from their plan.
Learning Objectives
  • Apply generally accepted accounting principles for inventory
  • Recognize the risks involved with auditing inventory
  • Describe the purpose of performing an inventory observation
  • Describe physical inventory counting procedures that ensure an accurate count
  • Perform a physical inventory observation
Key Topics
  • Risks surrounding inventory balances
  • Inventory observation design and execution
  • Applying professional skepticism to inventory observations
Who will it benefit?
These courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work through additional areas more independently.
$ 85.00
AICPA Member Price: $ 69.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting and Auditing
CPE Credits
Delivery Method
QAS Self-Study
Advance Preparation
Last Updated