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Inventory Procedures - Review instead of Audit

Would anyone know how inventory procedures would differ in a review as opposed to during an audit?

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

Define...."review". Inventory procedures would also differ depending on the type of "audit".

My point is....you adapt the procedures depending on the purpose.

PADMANABHAN SITARAMAN
Title: CA
Company: OWN
(CA, OWN) |

A review will require to ensure that the fundamental assumptions, processes, and methodologies adopted in the earlier audited period continue to hold good during the period under review. This will give comfort to the reviewer, given the limited scope a review has, in comparison with audit

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