Inventory Audits for EBO's and COCO Stores: Should We Use External Auditors or In-House Staff?

Hi,

Inventory audit (PI) for EBO's and COCO stores owned by the company should be done by the external auditor (agency) or in-house staff. Can in-house staff also conduct these audits (PI)?

I want to know if there is any statutory requirement for PI.

Thanks in advance!!!!!!

Audit Teams for Inventory Audits

Stores or inventory audits can be conducted by either the internal audit team or the external audit team. What matters is how the audit is conducted and the specific points it covers.

Types of Audits

There are two types of audits: Accounts audit and Finance audit, both of which are important.

Earlier, I provided a response regarding the points to be included in the audit of the stores. You can refer to the reply by clicking on the following link (scroll down till the fourth reply): https://www.citehr.com/446398-how-st...ification.html

Thanks,

Dinesh Divekar