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Unformatted text preview: - from physical inventory to inventory sheets (completeness) Test the numerical sequence of inventory counts sheets, both before and at the conclusion of the count Confirm, by enquiry of inventory counters, and by inspection of inventory count sheets, that items that should not have been counted, are in fact excluded on the sheets Inspect the inventory sheets to confirm that:- blank spaces have been struck out- alterations/corrections have been signed- inventory sheets have been signed by the counters responsible Create audit records in respect of the inventory count attendance by:- taking copies of all inventory sheets- recording observations as to the count procedures- recording results of all test counts performed by the audit team- recording any damaged or slow moving inventory identified Record cut-off numbers for all documents used in the inventory and production cycle Compile a list of goods received notes which have not been matched to supplier invoices...
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- Spring '10