Inventory Management
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Keywords: FIFO; LIFO; Average cost; Inventory count; Master price listing; Valuation; Depreciation
Categories: Audit Criteria
Keywords: FIFO; LIFO; Average cost; Inventory count; Master price listing; Valuation; Depreciation
Objectives:
1. To assess the effectiveness and efficiency of financial systems and controls in place, including those related to payment processing, budgeting, and record keeping.
2. To assess the effectiveness and efficiency of the program management including program planning, risk management, policies and procedures and human resource management.
Audit standards (best practices) for the Performance Management line of inquiry
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