28 paragraphs found
The objective of the auditor is to obtain sufficient appropriate audit evidence regarding the: Existence and condition of inventory; and [Deleted by the AUASB. Refer ASA 502 Audit Evidence—Specific Considerations for Litigation and Claims ] Presentation …
… audit procedures pursuant to paragraphs 4-8 of this Auditing Standard) include, for example: The risks of …
[Deleted by the AUASB. Refer ASA 502 Audit Evidence—Specific Considerations for Litigation and Claims ] …
Attendance at physical inventory counting involves: Inspecting the inventory to ascertain its existence and evaluate its condition, and performing test counts; Observing compliance with management’s instructions and the performance of procedures for …
If inventory is material to the financial report, the auditor shall obtain sufficient appropriate audit evidence regardi ng the existence and condition of inventory by: Attendance at physical inventory counting, unless impracticable, to: (Ref: Para . …
For practical reasons, the physical inventory counting may be conducted at a date, or dates, other than the date of the financial report. This may be done irrespective of whether management determines inventory quantities by an annual physical inventory …