Inventory (INV) - Normal Controls

Question 1

INV01

Answer 1

1. Does a documented procedure exist for all key inventory controls and is updated annually to reflect current practice?

Question 2

INV07

Answer 2

1. Are there appropriate controls for client-owned inventories?
2. Are these managed in line with client agreements?
3. Are the receipts, return or disposal of these inventories appropriately supported and approved?

Question 3

INV08

Answer 3

1. Is physical inventory held securely with access restricted to appropriate individuals?