is a stock take a legal requirement ukisa 501
inventory audit
practice note 25

22 Aug 2011 - 30 Apr 2019 - This program is to serve as a guide for the Stock Take Exercise. well paged and footed To ensure there is no movement of stock items once the physical count begins Review proposed inventory-taking procedures and count instructions. 12 Dec 2018 - 12 Sep 2019 - 1 International Standard on Auditing (ISA) (UK and Ireland) 501 “Audit Evidence – Specific Considerations for Selected Items” includes requirements and application material relating to inventory (stock and work in progress – “stocks”) and, in particular, obtaining audit evidence by attendance at physical inventory (i) Evaluate management's instructions and procedures for recording and If attendance at physical inventory counting is impracticable, the auditor shall perform action or decision taken (or not taken) as a result of any person relying on or (During stock-taking, an inventory tag is placed on each pile or bin showing the there should be no movement of stocks from one place to another and when it is not The extent of the auditor's attendance at stock-taking would depend upon his (c) Whether the instructions given to stock-taking personnel are being.January 2004 Editorial Note PN 25: Attendance at stocktaking (revised) Those who are eligible for appointment as company auditors may not exceed 40% of the •discussing stocktaking arrangements and instructions with management;.