Our Services

Physical Verification of Stock & Fixed Assests

Cutoff analysis :
  • Observe the physical inventory count.
  • Reconcile the inventory count to the general ledger
  • Test high-value items.
  • Test error-prone items
  • Test inventory in transit
  • Test item costs.
  • Review freight costs.

Fixed assets Verification :
  • Recognize the accounts in which fixed assets are typically recorded.
  • Note the changes in a fixed asset audit, based on the types of assets being audited.
  • Cite the situations in which inherent risk is more likely to be high.
  • Describe the fixed asset roll forward report.
  • Recognize the ways to detect assets that were dispositioned but not recorded.
  • Note the circumstances that can trigger a possible asset impairment.