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Unformatted text preview: 3. The client does not take cycle counts of the perpetual inventory system. However, other controls over receipt and shipment of inventory are working 4. The client does not employ a systematic process to evaluate the potential obsolescence in inventory 5. Many of the travel and expense reimbursements to top management are not accompanied by receipts or a description of the purpose of the expenditure. 6. Preliminary analytical procedures of expense accounts indicate that they are low in comparison with (a) previous years and (b) in relationship to sales....
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This note was uploaded on 09/29/2011 for the course ADMS 4551 taught by Professor Iacobelli during the Spring '11 term at York University.
- Spring '11