TFL Vsebine / Revija SIR*IUS

From procurement to valuation: the complexity of auditing work-in-progress and finished goods inventories and the importance of internal controls

Zaloge so pomembno in pogosto kompleksno revizijsko področje, na katerem se prepletajo različni poslovni procesi, računovodske usmeritve, informacijski sistemi in notranje kontrole. Njihovo revidiranje zato zahteva celovito razumevanje njihovega življenjskega cikla – od nabave materiala in surovin, prevzema, evidentiranja, skladiščenja in porabe do proizvodnega procesa, oblikovanja proizvajalne vrednosti, razporejanja posrednih stroškov, vrednotenja in izkazovanja v računovodskih izkazih. Kompleksnost področja se odraža tudi v različnih tveganjih pomembno napačne navedbe, zlasti v povezavi z obstojem, popolnostjo, pravilnostjo vrednotenja, ustreznim časovnim razmejevanjem ter predstavitvijo in razkritji. V članku obravnavamo ključne izzive, s katerimi se pri revidiranju zalog srečuje zunanji revizor, s posebnim poudarkom na razumevanju in presoji notranjih kontrol. Ustrezna presoja kontrol pri procesih nabave, skladiščenja, porabe, proizvodnje in vrednotenja je pomembna za identifikacijo in oceno revizijskih tveganj ter za določitev ustreznega revizijskega pristopa in narave, časa ter obsega nadaljnjih revizijskih postopkov. Posebna pozornost je namenjena tudi presoji kontrol, povezanih z razporejanjem posrednih sobtroškov in vrednotenjem zalog, kjer so lahko prisotne pomembne računovodske ocene in elementi strokovne presoje poslovodstva. Namen članka je prikazati, da revizija zalog presega preverjanje njihovega fizičnega obstoja na dan bilance stanja in zahteva celovit pristop, ki povezuje razumevanje poslovnih procesov, ocenjevanje tveganj pomembno napačne navedbe, presojo notranjih kontrol ter pridobivanje zadostnih in ustreznih revizijskih dokazov. V članku so poudarjena področja, na katerih sta za zunanjega revizorja še posebej pomembni strokovna presoja in kritična naravnanost, odpira pa vprašanje, v kolikšni meri in pod katerimi pogoji lahko revizor pri oblikovanju svojega revizijskega pristopa upošteva zasnovo in delovanje notranjih kontrol.

Inventories represent a significant and often complex area of the audit of financial statements, involving a combination of business processes, accounting policies, information systems and internal controls. Their audit therefore requires a comprehensive understanding of the entire inventory life cycle – from the procurement of materials and raw materials, their receipt and recording, storage and consumption, through the production process, determination of production costs, allocation of indirect costs, valuation, and presentation in the financial statements. The complexity of this area is also reflected in various risks of material misstatement, particularly those relating to existence, completeness, valuation, cut-off, presentation, and disclosures. The article examines the key challenges faced by external auditors when auditing inventories, with particular emphasis on understanding and evaluating internal controls. An appropriate assessment of controls over procurement, warehousing, consumption, production, and valuation processes is important for identifying and assessing risks of material misstatement and for determining the appropriate audit approach, including the nature, timing and extent of further audit procedures. Attention is also given to controls relating to the allocation of indirect costs and the valuation of inventories, where significant accounting estimates and elements of management judgement may be involved. The purpose of the article is to demonstrate that the audit of inventories extends beyond verifying their physical existence at the reporting date, and requires a comprehensive approach that integrates an understanding of business processes, the assessment of risks of material misstatement, the evaluation of internal controls, and the obtaining of sufficient appropriate audit evidence. The article highlights areas in which professional judgement and professional scepticism are particularly important for external auditors and considers the extent to which, and the conditions under which an auditor may take the design and operating effectiveness of internal controls into account when determining the audit approach.