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Case Study Regarding The Assistance Of An Auditor To A Stock Count

Author

Listed:
  • IOANA BUFAN
  • ANDRA CORNEAN

    (WEST UNIVERSITY OF TIMISOARA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION)

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.

Suggested Citation

  • Ioana Bufan & Andra Cornean, 2012. "Case Study Regarding The Assistance Of An Auditor To A Stock Count," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 126-133, November.
    • Handle: RePEc:tdt:annals:v:xviii/supplement:y:2012:p:126-133
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012_2/AnaleFSE_2012_2_019.pdf
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    More about this item

    Keywords

    stock count; audit assignment; opinion; assertion; procedures; financial statements;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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