Other Services

Inventory Count/Observation (limited service):

   - The client indicates the assets requiring the count/observation (chooses the sample or defines the population).

   - Our team arrives at the premise and performs the count, or observation.

   -  Our team documents count/observation results on forms/checklists provided by the client or created by our firm.

   - Sheet to Floor and Floor to Sheet Test Counts are performed. 

   - Our team documents the test count results on a workpaper provided by the client or created by our firm.

Inventory Count/Observation (complete inventory audit service):

   - We request a report on the inventory related to the year-end audit. We obtain the related inventory report showing all products, quantities and cost that result in the reported amount.  The items to be test counted are sampled.  The sampled item is identified on the inventory report for the date of the count/observation. 

   - Our team arrives at the premise performs the count/observation.

   -Our team documents count/observation results on forms/checklists provided by the client or created by our firm.

   - Sheet to Floor and Floor to Sheet Test Counts are performed and documented.

   - We perform inventory rollbacks tests and resolve discrepancies with management to ensure balances at rollback agree to reported amounts for the audit.

   - We test rollback information (purchases and sales).   

   -We perform an LCM Test and other valuation tests as applicable.

   - Our team performs an inventory impairment assessment.

Fixed Asset Verification (limited service):

  - The client indicates the assets requiring the verification (chooses the sample or define the population).

  - Our team arrives at the premise and performs the verification by inspecting if the asset(s) is/are in place and effectively operating, through inquiry and observation.

  - Our team documents verification results on forms/checklists provided by the client or created by our firm.

Fixed Asset Verification (complete fixed asset audit service):

  - We request a report on fixed asset details related to the year-end audit and ensure values reconcile. From inquiry, observation, and professional judgement we will determine the estimated useful lives of each asset and verify date assets were placed in service.

  -  Our team arrives at the premise and performs the verification by inspecting if the asset(s) is/are in place and effectively operating, through inquiry and observation.

  - Our team documents verification results on forms/checklists provided by the client or created by our firm.

  - Our team prepares the fixed asset roll forward workpapers and performs an impairment assessment.

  - Our teams tests purchases in the fiscal and historical period, if required by the level of assessed audit risk.