Out of 60 items reviewed, discrepancies were found among 57, or 95 percent, auditors reported. Of those, auditors reported finding shortages in 45 but discovered more inventory than was listed in ...

Just because a piece of physical inventory is sitting in a warehouse doesn't mean that management actually owns it. A company can have physical custody of an asset but not actually own it, and the ...

Auditors should first observe a company inventory count if at all possible. This is an excellent opportunity to understand the count procedure and become aware of any possible errors in their method.

Glendale Water & Power’s storage warehouse hasmore than $1 million in tools that haven’t been used in four years, according to a recent audit that also found several issues with security and ...

Larger companies have cycle counting processes. Cycle counting is an inventory audit process of regularly counting selected items or locations on a scheduled basis. Some companies have moved away from ...

The audit concluded: "As a result of the conditions noted, EPA property at the warehouse was vulnerable to theft and abuse (including personally identifiable information), EPA property was not ...

The sale and disposal of surplus goods raised about $4 million in fiscal 2013.In January, the manager of the school system’s side of the warehouse, Alexandria resident Craig Soderberg, resigned ...

Audit data might be used for simple solutions to one-off problems, or to determine the next steps in more complex situations. In either case, a warehouse or supply-chain audit puts your suppliers and ...

“For the year 2020, it was reported that Amazon’s injury rate was more than twice as high as that of Walmart warehouse workers and that Amazon’s serious injury rate was nearly 80% higher ...

Throughout fiscal year 2018, Anniston Army Depot has been under a Department of Defense-wide audit, which was mandated by Congress.For ANAD, inventory makes the larges impact on the balance sheet.

Fire alarm systems are to be installed as money is available for the $50,000 expense, and the utility, which has video systems monitoring the warehouse areas, will examine the cost of additional ...