Auditing and Governance Risk and Compliance

Auditing Inventory and Warehouse Operations

Inventory is often one of the largest assets and is exposed to loss, obsolescence and misstatement. This course covers auditing inventory processes, physical counts, valuation, warehouse controls, inventory systems, analytics and loss prevention.

5 days Classroom or live online English

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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.

Inventory errors affect profit, cash and customer service. This course gives auditors practical tools to assess inventory and warehouse controls.

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.

The course uses process walkthroughs, stock count planning, analytics exercises and case studies.

Course objectives

What you'll take away.

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

Understand inventory and warehouse process risks
Plan and observe physical inventory counts
Test inventory valuation and provisions
Assess warehouse operational controls
Apply analytics to inventory data
Report findings and recommend improvements

Target audience

Who should attend.

This course is suitable for:

Internal auditors
External auditors
Inventory and warehouse managers
Finance controllers
Loss prevention professionals

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Inventory risk assessment
Stock count observation
Valuation testing
Warehouse control review
Inventory analytics
Audit reporting

Course outline

Your learning journey.

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

Day 1Inventory Risks

09:00–09:54Inventory cycle
09:54–10:48Risks and misstatements
10:48–11:00Accounting basics
11:00–11:30Coffee break
11:30–12:12Accounting basics (continued)
12:12–13:06Controls overview
13:06–14:00Exercise: Risk mapping

Day 2Physical Counts

09:00–09:54Count planning
09:54–10:48Observation
10:48–11:00Cycle counts
11:00–11:30Coffee break
11:30–12:12Cycle counts (continued)
12:12–13:06Reconciliation
13:06–14:00Workshop: Count plan

Day 3Valuation

09:00–09:54Costing methods
09:54–10:48Obsolescence
10:48–11:00Provisions
11:00–11:30Coffee break
11:30–12:12Provisions (continued)
12:12–13:06Cut-off
13:06–14:00Exercise: Valuation testing

Day 4Warehouse Controls

09:00–09:54Receiving and dispatch
09:54–10:48Access and security
10:48–11:00System controls
11:00–11:30Coffee break
11:30–12:12System controls (continued)
12:12–13:06Loss prevention
13:06–14:00Case study: Inventory shrinkage

Day 5Analytics and Reporting

09:00–09:54Inventory analytics
09:54–10:48Ageing
10:48–11:00Findings
11:00–11:30Coffee break
11:30–12:12Findings (continued)
12:12–13:06Recommendations
13:06–14:00Capstone: Inventory audit

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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