Page 86 - Audit Day 3 - Class Slides

REVENUE AND RECEIPTS CYCLE

RISKS AT THE WAREHOUSE

• Valid ISO/ picking slip may not be acted upon

• Goods may be removed/ picked from inventory

for fictitious/ unauthorised sales.

• Incorrect items and quantities may be picked.

• Inaccurate and incomplete delivery notes may be

made out.

• “Out of stock” items may not be identified on the

picking slip.

• Customer may not be notified of “out of stock”

items resulting in loss of the sale and customer

goodwill.

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