存货控制流程 Walkthrough - Inventory

Tab
Inventory
Yes, refer to w/p 1830.02
Tab
Inventory Inventory
Risk # 3 Cost of sales transactions are recorded in the incorrect period. Risk # 4 Inventory receipts or transfer of title for inventory shipments are not recorded in inventory or accounts payable.
Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02
Tab Tab Tab Tab Tab
Inventory
Yes, refer to w/p 1830.02
Tab
Inventory Inventory
Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02
Tab Tab
Yes, refer to w/p 1830.02 Yes, refer to w/p 1830.02
Tab Tab
Inventory Inventory Inventory Inventory Inventory
Risk # 5 The Company fails to identify all inventoriable materials that have been requisitioned for use in various research and development projects and should no longer be classified as inventory. Risk # 6 Inventory stated in the general ledger does not reconcile to the inventory records and/or the reconciliation contains invalid items. Risk # 7 Inventory may be removed from inventory records and recorded as a cost of sales when it has not actually been sold. Risk # 8 Physical inventory counts are not performed on a periodic basis, potentially resulting in inaccurate inventory records. Risk # 9 Physical inventory counts: • Count inventory that does not exist • Do not include counts of all inventory • Do not include consideration of movement of inventory during the physical inventory • Are not valued at the appropriate cost • Book to physical adjustments are not recorded or recorded at the incorrect amount. Risk # 10 Data contained in the Perpetual Inventory Ledger is not correctly stated, including data about the following: • Organization Name (Location) • Sub-Inventory Location • Item Number • Category • Description • Quantity on Hand (Preliminary & Adjusted) • Standard Cost (Local Currency & USD) • Extended Cost (Local Currency & USD) Risk # 11 The Company excludes from inventory items that have been sent from suppliers for which title has transferred to the Company but the Company had not received as of period end. Risk # 12 The calculation for obsolete, slow moving, or excess inventory is based on inaccurate inventory aging data.
Risk #
What Can Go Wrong (Risks)
Control(s) that mitigates risk
Reference to where risk discussed in walkthrough
Inventory
Risk # 1 Inventory and accounts payable are recorded: • Prior to receipt and/or title transfer of the inventory • At the incorrect amount. Risk # 2 Inventory records include inventory that was sold to customers and not recorded as a component of cost of sales.
Risk Mapping - Inventory Have the likely sources of misstatement been included within the respective ROMM document? Yes, refer to w/p 1830.02
Hale Waihona Puke Baidu
Process Area