Inventory Observation - Cretaceous Conservatory Simulation

Overview

Step into the heart of the Cretaceous Conservatory for an unforgettable inventory observation adventure! In this immersive simulation, you'll travel to a remote island where the inventory isn't just vast, it's alive. As an auditor responsible for ensuring accuracy in the company's dinosaur-development operations, you'll face wild risks, navigate complex inventory procedures, and confront the unexpected.

Through hands-on scenarios, you'll learn to identify misstatements, evaluate unique inventory challenges, and apply standard observation techniques all while staying one step ahead of potential disaster. Can you survive the wilds of the Cretaceous and emerge as the ultimate inventory explorer, or will the risks prove too much to handle?

Highlights

Obsservation
Auditing

Prerequisites

None

Designed For

Accounting Professionals

Objectives

Recognize potential risks associated with inventory misstatements that an auditor should be aware of during an observation
Recall the standard procedures for observing and counting inventory during a physical inventory count
Identify key documentation required before, during, and after an inventory observation
Identify sufficient, appropriate inventory observation selections through identification of individually significant items and sampling methodology
Recall potential risks associated with inventory or unique inventory situations
Identify responses to risks and variances identified during an inventory observation