Auditing an inventory count

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Man
3 Points Joined October 2018

Hello

 

When I'm auditing an inventory count, and specifically when I'm doing a test count, what am I comparing my test count to - is it the amount recorded by the company's counters or is it the amount currently recorded on the companies stock listing

Any help would be appreciated, I am a new audit trainee

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On 18 October 2018 at 20:30 Report
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Student
3549 Points Joined September 2016
Hi James. We need to compare test count number to the number counted by management that is management count.
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On 18 October 2018 at 20:51
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KAMLA TOWER
92 Points Joined August 2011
https://youtu.be/5XFGhPE1Vz8
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On 18 October 2018 at 21:39
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a
1620 Points Joined November 2010
hitesh ji right
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On 18 October 2018 at 21:51
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KAMLA TOWER
92 Points Joined August 2011
https://t.me/caupdatesankitsaraogi
Download Telegram and join our channel for more information on the latest updates
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On 18 October 2018 at 21:53
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a
1620 Points Joined November 2010
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On 18 October 2018 at 21:54
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Man
3 Points Joined October 2018
Thanks Hitesh. So the amount recorded on the system does not come into it? I just need to make sure myself and management are counting the same figures?
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On 19 October 2018 at 01:30
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Student
3549 Points Joined September 2016
Yes correct James. But make sure that management has passed adjustment entries for the difference between system stock and management count.
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On 19 October 2018 at 08:24
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a
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On 19 October 2018 at 08:47

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