numbers on purple background
Resources

Observing inventory counts virtually

Nov 23, 2020 · 273.1 KB Download

FREE ACCOUNT

ACCESS

Resource

available

Because of the COVID pandemic, auditors with audit clients that have material inventories are trying to decide whether and how they can audit those inventories and particularly, whether they can remotely observe inventory counts in a manner that will provide them persuasive evidence. AU-C 501, Audit Evidence – Specific Considerations for Selected Items, specifically paragraphs 11-14, indicate that the auditor should attend physical inventory counting unless impractical. Clearly the COVID pandemic and related travel and social gathering restrictions can make

Download the report on considerations when performing virtual inventory counts

File name: CPEA-virtual-inventory-counts.pdf

Already a member?

Log in with your account
 
Forgotten email
Forgotten password

Not a member?

To gain access to exclusive content, your first step is to join the AICPA & CIMA.

Related content

}