Inventory Count Services
Physical inventory counts are a critical yet labor-intensive aspect of many audit engagements. They often tie up significant staff resources—especially during peak seasons. Barton CPA PLLC offers specialized Inventory Count Services to CPA firms, letting you outsource this function to an experienced team that understands AICPA and PCAOB requirements. By leveraging our service, you can reallocate your staff to higher-value tasks, while we handle the on-site or remote observation and testing of inventory.
1. Physical Inventory Observations & Testing
We perform observations in line with AICPA (AU-C Section 501: Audit Evidence—Specific Considerations for Selected Items) and, for public entity engagements, PCAOB standards (AS 2510: Auditing Inventories).
Example: A manufacturing client with multiple warehouses requires verifying raw materials, work-in-process, and finished goods. We coordinate with the client to plan the count, follow consistent count procedures, and reconcile any discrepancies.
2. Inventory Record Reconciliations
We compare on-site count results with accounting records, ensuring accuracy and completeness.
Example: Retail clients often have complex SKUs and barcoding systems. We verify inventory tags and documentation to confirm correct classification (e.g., slow-moving, obsolete).
3. Detailed Documentation & Reporting
We provide comprehensive workpapers that meet GAAS documentation standards, making it seamless for your firm to integrate into your overall audit file.
Example: After completing a large physical count, we issue a findings report with any variances or exceptions, along with management’s explanations.
Timely Filing Emphasis
By outsourcing inventory counts, you avoid scheduling conflicts and reduce the risk of not meeting your engagement deadlines (e.g., for a busy season 12/31 year-end).
We work within your required timeframe to ensure that your financial statement audit or review remains on track, helping prevent missed filing deadlines.
