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.
Accounting professionals new to taking inventory observations
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
Observation and professional skepticism Interviewing the client Performing test counts Evaluating the results obtained