Auditing and Governance Risk and Compliance

Auditing Inventory and Fixed Assets

Inventory and fixed assets represent large balance sheet values and are exposed to theft, obsolescence and recording errors. This course covers auditing inventory and fixed assets: stock counts, valuation, obsolescence, reconciliations, asset registers, tagging and verification, capitalisation, depreciation and disposals.

5 days Classroom or live online English

Smart Horizon Certified - Global Leadership Consultants

Take the course details with you.

Download the full standard outline: why attend, methodology, objectives, audience, competencies, the daily outline and current plans.

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Why attend

From knowledge to real-world impact.

Asset misstatements and losses are common audit findings. You will learn practical techniques to verify that assets exist and are correctly recorded.

Workplace challenges

Professional Problems This Course Is Designed to Solve

The programme explores practical approaches to the following challenges. Results depend on how the learning is applied in your organisation.

Difficulty translating subject knowledge into practical workplace decisions.
Inconsistent approaches to the activities covered in the course outline.
Lack of a structured plan for applying and reviewing new skills.

Course methodology

How you will learn.

Stock count simulations, register reconciliation exercises, valuation case studies and analytics tests.

Course objectives

What you'll take away.

By the end of this course, participants will be able to:

Plan and observe inventory counts
Test inventory valuation and obsolescence
Reconcile physical and book records
Audit fixed asset registers and verification
Review capitalisation and depreciation
Test asset disposals and write-offs

Target audience

Who should attend.

This course is suitable for:

Internal and external auditors
Finance controllers
Inventory and asset managers
Audit managers
Accountants

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Count procedures
Valuation testing
Reconciliation
Asset verification
Disposal review

Course outline

Your learning journey.

A focused, practical outline with time to explore, apply and reflect.

Day 1Asset Risks

09:00–10:08Inventory and asset risks
10:08–11:00Controls
11:00–11:30Coffee break
11:30–11:45Controls (continued)
11:45–12:53Accounting basics
12:53–14:00Exercise

Day 2Inventory Counts

09:00–10:08Count planning
10:08–11:00Observation
11:00–11:30Coffee break
11:30–11:45Observation (continued)
11:45–12:53Count differences
12:53–14:00Simulation

Day 3Inventory Valuation

09:00–10:08Costing
10:08–11:00Obsolescence
11:00–11:30Coffee break
11:30–11:45Obsolescence (continued)
11:45–12:53Net realisable value
12:53–14:00Exercise

Day 4Fixed Assets

09:00–10:08Registers and tagging
10:08–11:00Physical verification
11:00–11:30Coffee break
11:30–11:45Physical verification (continued)
11:45–12:53Capitalisation and depreciation
12:53–14:00Workshop

Day 5Disposals and Reporting

09:00–10:08Disposals and write-offs
10:08–11:00Analytics
11:00–11:30Coffee break
11:30–11:45Analytics (continued)
11:45–12:53Findings
12:53–14:00Action plan

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Dates & venues

Find a session that works for you.

Confirmed dates accept registration requests. Tentative dates are enquiry only.

Good to know

A few things to know.

How is the course delivered?

Our classroom programmes combine facilitated discussion, case studies, exercises and reflection. The precise format will be confirmed before enrolment.

Can you deliver this programme for our team?

Yes, you can enquire about a tailored programme. Share your goals, group size and preferred dates with our learning team.

Will I receive a certificate?

Participants who complete the programme receive a Smart Horizon UK certificate of attendance. Smart Horizon UK programmes are not externally accredited and do not award a professional qualification, licence or designation. Where a course title or outline refers to a professional certification (for example, AACE International's Certified Cost Professional), the programme supports learning and preparation only; the credential itself is awarded solely by the relevant professional body under its own application and examination requirements.

What should I confirm before booking travel?

Please confirm the session, exact venue, accessibility arrangements, fees and any visa requirements with the team before arranging travel. Tentative dates are not confirmed sessions.

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