Event Description

During this interactive game, participants take the role of an auditor performing a physical inventory observation at a client’s warehouse. Participants will have the opportunity to use their powers of observation and exercise professional skepticism in identifying areas of risk that might need follow-up, interviewing Wally the client, and performing inventory test counts. After performing the test counts, participants will evaluate the results.

Designed For

Accounting professionals new to taking inventory observations

Objectives

Use your powers of observations and exercise professional skepticism to identify issues related to the physical inventory observation; Identify high value questions to ask the client prior to performing the test counts; Perform procedures to test the existence, completeness, and accuracy of the physical inventory count; Evaluate the results obtained from the test counts performed

Major Subjects

Observation and professional skepticism Interviewing the client Performing test counts Evaluating the results obtained

Prerequisites

None

Instructions

None