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Auditing Standard ASA 2020-1 Amendments to Australian Auditing Standards
Amendments to ASA 501Amendments to ASA 501
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Amendments to ASA 501
- Existing paragraph A4 is amended to read as follows:
Matters relevant in evaluating management’s instructions and procedures for recording and controlling the physical inventory counting include whether they address, for example:
The application of appropriate controls activities, for example, collection of used physical inventory count records, accounting for unused physical inventory count records, and count and re-count procedures.