After the inventory count (2)

Question 1

Key tests include (serial number)

Answer 1

Confirm cut-off details of last serial number of GRN and GDN and details of movements during the count

Question 2

Key tests include (third parties)

Answer 2

Review replies from third parties about inventory held by or for them

Question 3

Key tests include (client computation)

Answer 3

Reperform client’s computation of final inventory figure to ensure it has been calculated correctly

Question 4

Key tests include (management)

Answer 4

Follow up queries and notify problems to management

Question 5

Key tests include (adjustments book inventories)

Answer 5

Confirm necessary adjustments to book invetories have been made bu inspecting client’s ledgers