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This research investigates the effectiveness of current inventory audit standards and identifies key risks highlighted in accounting enforcement releases and audit matters.

April 10, 2026Current Issues in AuditingOpen Access

Inventory Auditing Standards: Insights from AAERs and CAMs

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Authors

PCPaul CasterFairfield University RERandal J. ElderUniversity of North Carolina at Greensboro DJDiane J. JanvrinIowa State University

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This analysis examines inventory audit risks in recent AAERs and CAMs, highlighting critical fraud areas.

Key Points

This research investigates the effectiveness of current inventory audit standards and identifies key risks highlighted in accounting enforcement releases and audit matters.
Examined Accounting and Auditing Enforcement Releases (AAERs) from 2000 to 2022
Reviewed critical audit matters (CAMs) from 2019 to 2023
Identified common inventory issues related to obsolescence and pricing
The major inventory issue found is obsolescence, present in both CAMs and AAERs.
Pricing and observation issues are frequently noted in AAERs but rarely in CAMs.
The research identifies specific inventory areas with significant fraud risks and misstatements.

Cite This Study

Caster et al. (2026) studied this question.

synapsesocial.com/papers/69d894ad6c1944d70ce05904 https://doi.org/10.2308/ciia-2025-035

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Inventory Auditing Standards: Insights from AAERs and CAMs

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Key Points

Cite This Study

Inventory Auditing Standards: Insights from AAERs and CAMs

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Implication

Key Points

Cite This Study

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