CASE STUDY REGARDING THE ASSISTANCE OF AN AUDITOR TO A STOCK COUNT

Ioana Bufan () and Andra Cornean ()
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Andra Cornean: WEST UNIVERSITY OF TIMISOARA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION

Anale. Seria Stiinte Economice. Timisoara, 2012, vol. XVIII/Supplement, 126-133

Abstract: Whatever the nature of the elements of the stock count or departments in which the elements are located, the auditor should perform their work according to certain rules and will perform the stock count in order to answer certain questions in the check list. The members of the audit team selected certain types of goods from the department’s stock count lists following quantities in order to identify physical stock, a process called "list to floor". Its opposite process is called "floor to list" and it involves random selection of certain types of goods that will be identified on the lists by the audit team members. As a conclusion, the assistance to the stock count procedures by the auditor is essential during the audit assignment. It has a direct impact on the opinion expressed by the auditor due to the assertion regarding the existence related to the financial situations.

Keywords: stock count; audit assignment; opinion; assertion; procedures; financial statements (search for similar items in EconPapers)
JEL-codes: M40 M41 M42 (search for similar items in EconPapers)
Date: 2012
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