Small, privately held businesses that warehouse inventory in an onsite or offsite location typically conduct an annual internal inventory audit. While procedures for counting and valuing inventories ...

Inventory is a large part of the auditing process for companies with physical goods. Inventory is a substantial portion of total assets for many companies. In addition, there are many complex ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...

A new audit data standard issued by the AICPA Assurance Services Executive Committee addresses the inventory subledger and is intended to accommodate basic analysis of the inventory process. Through ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Manufacturers often face unique challenges during their ...

Marvin Dumont has 15+ years of experience as a journalist and managing editor. His byline has appeared on Fox News and TheStreet.com. Ebony Howard is a certified public accountant and a QuickBooks ...