Inventory Management - Risks and Controls
This course gives you a grounding in inventory management.
This course gives you a grounding in inventory management. We will explore types and classifications of inventory used across different industries, how inventory is managed and why this is important. We will also consider associated processes, such as the financial aspect (inventory valuation) and the use of information technology to optimise inventory management techniques. As this course is designed for internal auditors, we will of course consider the various risks and control activities for inventory.
The course expands on the Inventory Fundamentals course.
You have 24 weeks to complete the course; however, it shouldn’t take you more than two hours to do so.
Course overview
After completing this course, you will be able to:
- Describe inventory and the various forms it can take.
- Outline the principal activities associated with inventory management.
- Outline inventory accounting and valuation methodologies.
- Describe how information technology is utilised for inventory management processes.
- Identify common risks associated with the inventory management process.
- Describe control activities designed to mitigate risks.
The course comprises six modules and a quiz. After you have completed these components, you will be able to download your certificate of completion.
The course is online so you will need access to an internet-enabled device. The material is responsive and will display well on most devices.
Most of the material is written. However, there are audios within the course material, for which transcripts are provided.
Operational Area Competencies - Accounting
Operational Area Competencies - Supply Chain Management
Operational Area Competencies - Other
2 CPE points
*Please note that the price for this training course is excluding VAT*