Auditors spend a substantial amount of time testing inventory because it usually makes up a large portion of company assets. Many auditors maintain a physical inventory count checklist of items to ...

One important aspect of ensuring that your small business runs smoothly is to periodically compare written inventory records against the actual physical stock on the shelves and in the warehouse. If ...

All departments are required to perform a complete inventory of their capital equipment once per year. This process is an important control activity designed to safeguard the assets of the University.