Question 1b
Marking Guide
audit procedures prior to inventory count attendance | |
| 0·5 for each procedure | |
| procedures | |
| – review prior year working papers for problems | |
| – contact client to obtain stocktake instructions | |
| – book audit staff to attend the inventory counts | |
| – obtain copy of inventory count instructions from client | |
| – ascertain whether any inventory is held by third parties | |
| – obtain last year’s inventory count memo | |
| – prepare audit programme for the count | |
| – obtain prior year management letter for evidence of stocktake problems | |
| - other relevant points | |
| maximum marks | 2 |