Aplicación práctica de la Norma de Registro y Valoración 10: un caso de auditoría real de las existencias


Maurice, Claire


The section of inventories can be a key challenge in the Annual Accounts depending on the business of each company and it is the job of the external auditor to check that they represent a true and fair value of the audited company.
This work is divided into three sections. First we have studied the theoretical accounting framework to have the same accounting basis. We developed the different criteria for initial and subsequent valuation of inventories accepted by the Spanish General Accounting Plan. As a continuation, we studied the theoretical framework of auditing to understand the challenges that inventories represent for companies, the associated risks and the ways to mitigate these risks by the auditor.
Finally, to put the theory into practice, we applied the concepts seen earlier in a case study of a decorative paper printing and ink manufacturing and sales company. We have detailed the different tests carried out by the auditor to verify that the amounts recorded in the inventory section of the Annual Accounts of the company represent a true and fair picture of the situation at the end of the fiscal year. Among others, the minimum tests required by the International Standards on Auditing have been carried out, which are the physical inventory and the operating cut-off. Furthermore, due to the importance of inventories in this case, additional tests have been performed such as an impairment test, a net realizable value test and valuation tests of raw materials and finished products.



Martínez Blasco, Mónica


IQS SM - Master’s Degree in Auditing and Management Control