Inventory observations involve an auditor understanding the company’s planned counting procedures, so that the auditor can conclude the count was…

Inventory observations involve an auditor understanding the company’s planned counting procedures, so that the auditor can conclude the count was adequately planned and executed. You are one of a number of staff auditors observing the inventory taking at a client’s warehouse – the products in the warehouse are retail electronic products (TV’s, stereos, etc). Your test counts indicate that one client counting team is making what appears to be a number of mistakes, both over and under counting. Indicate in one or more paragraphs what you would do as a result of noticing this activity.

Inventory audit issues during audit of a retail business. The very basic requirement of an inventory audit is the categorization of the inventory. Inventory Categorization ismainly done on ABC…

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