Physical verification

(redirected from Physical Verifications)

Physical verification

A procedure auditors use to ensure that inventory recorded in the book is correct by actually checking out the physical inventory.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Physical Verification

A practice in which an auditor ensures that the inventory recorded on a company's statements is correct by actually inspecting and counting the inventory.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Full browser ?