Document background
The Audit Program For Inventories serves as a critical tool for ensuring accurate and compliant inventory audits within the German regulatory framework. It is designed for use by audit firms and internal audit departments when conducting thorough examinations of a company's inventory processes and values. The program incorporates requirements from the German Commercial Code (HGB), German auditing standards (IDW), and international standards as adopted in Germany. This document becomes particularly important during annual audits, special inventory verifications, or when significant inventory discrepancies are suspected. It provides systematic procedures for physical counts, valuation assessments, and documentation requirements, ensuring that inventory audits meet both regulatory requirements and professional standards.
