AUDIT OF INVENTORIES: BASIC STAGES OF AUDIT INSPECTION

Inventories are important current assets of an enterprise that are held for sale or production and the use of which is expected to produce economic benefits in the future. A rationally organized inventories accounting at the enterprise significantly affects the financial performance of the company, because such indicators as cost and profit are directly proportional to the correct description of inventory information in the accounts of synthetic and analytical accounting. The proper accounting of inventories depends on many factors in the enterprise, namely: the rational classification of this group of current assets, the choice of the method of valuation upon receipt of the inventories, their disposal and valuation at the balance sheet date; correctness of the method distribution transport and procurement costs, keeping of inventories records, economically expedient documentation of their movement, filling the registers of analytical and synthetic accounting, etc. In order to ensure the correct organization and keeping of inventories records at the enterprise, it is necessary to turn to the certified specialists — auditors (audit companies), who will establish the correctness or incorrectness of accounting. After all the arrangements have been approved and the contract has been concluded between the parties, the auditor begins the audit. The primary stage involves the preparation of an audit program that is approved by the client. The program is an important component of the audit, because the correctness and objectivity of its content depends on the quality of the audit. The next step is to analyze the external and internal sources of inventory accounting information, that serve as a basis for further development of the audit report, what is the final objective for the auditor and a significant indicator of the accounting quality for the client. The newness of the scientific article is to develop a possible program for the audit of inventories at the enterprise, research and generalization of external and internal sources of information for the audit, suggesting the stages (sequence) of the audit based on analytical and synthetic accounting data, which are required for the auditor to carry out the audit of this group of current assets. The results of the research are grouped and presented in tables and figures. The relevant conclusions are formed.