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Date Submitted: 06/28/2014 08:59 AM
Apollo Shoes Design Part III
Tonya Harris
ACC 546
June 11, 2014
Rashida Heard
Apollo Shoes Design Part III
Inventory and Warehouse Cycle
|Transaction Related Audit |Existing Controls |Test of Controls |Substantive Tests of |
|Objective | | |Transactions |
|Inventory recorded as tagged|Teams of two count inventory|Observe Inventory Counting |Select a random sample of |
| | |process |inventory to test counting |
| | | |accuracy |
| |Inventory procedures states |Observe if movement of | |
| |no movement of inventory |inventory takes place during| |
| |during counting period |count | |
|Existing inventory is |Inventory Manager reviews |Examine inventory to make |Review samples of inventory |
|counted and tagged, |count sheets, signs off on |sure all inventory was |to validate items were |
|completeness |them |tagged |tagged |
| | |Inquire on inventory in |Ask staff about any items |
| | |other locations |not counted and validate |
| | | |these items are or are not |
| | | |on the books |
|Inventory accounted for |Manager signs off on count |Recount...