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The following examples are from AU-C 240 Appendix B:

Revenue recognition. The auditor may consider:

 Performing substantive analytical procedures relating to revenue using disaggregated data, such as comparing revenue reported by month or by product line or business segment during the current reporting period with comparable prior periods.

 Confirming with customers certain relevant contract terms and the absence of side agreements, because the appropriate accounting often is influenced by such terms or agreements (for example, acceptance criteria, delivery and payment terms, the absence of future or continuing vendor obligations, the right to return the product, guaranteed resale amounts, and cancellation or refund provisions often are relevant in such circumstances).

 Inquiring of the entity’s sales and marketing personnel or in-house legal counsel regarding sales or shipments near the end of the period and their knowledge of any unusual terms or conditions associated with these transactions.

 Being physically present at one or more locations at period-end to observe goods being shipped or being readied for shipment (or returns processing) and performing other appropriate cutoff procedures.

 For those situations for which revenue transactions are electronically initiated, processed, and recorded, testing controls to determine whether they provide assurance that recorded revenue transactions occurred and are properly recorded.

Inventory quantities. The auditor may consider:

 Examining the entity’s inventory records to identify locations or items that require specific attention during or after the physical inventory count.

 Performing additional procedures during the count, such as rigorously examining the contents of boxes, checking for hollow squares in the manner in which goods are stacked, or examining the quality of liquid substances for purity, grade, or concentration.

 Performing additional testing of count sheets, tags, or other records to reduce the possibility of subsequent alteration or inappropriate compilation.

 Performing additional procedures to test the reasonableness of quantities counted, such as comparing quantities for the current period with prior periods by class or category of inventory or location.

 Using CAATs.

Management estimates. The auditor may want to supplement the audit evidence obtained. The auditor may:

 Engage a specialist to develop an independent estimate for comparison.

 Extend inquiries to individuals outside of management and the accounting department to corroborate management’s ability and intent to carry out plans that are relevant to developing the estimate.