AUDITINGCHAPTER 15.ppt

GBW 8th ed., Ch. 15 AUDITINGCHAPTER 15 Inventory Fixed Assets By David N. Ricchiute TOPICS Nature of conversion cycle Auditor’s consideration of controls for inventory, fixed assets Substantive tests for inventory, fixed assets Audit judgment for impaired assets Computer-assisted audit techniques for inventory, fixed assets Assurance service opportunities INVENTORY DOCUMENTS Labor charge report Summary labor costs for work-in-process Materials requisition Perpetual inventory record DOCUMENTS FOR FIXED ASSETS Depreciation schedule Overhead application report Summary overhead applied to work-i