Sarbanes-Oxley Act: Federal law that mandates specific internal control requirements, particularly sections 302 and 404, affecting how inventory audits must be conducted and reported
Generally Accepted Accounting Principles (GAAP): Standardized accounting principles that govern inventory valuation, recording, and reporting methods in the United States
SEC Requirements: Securities and Exchange Commission regulations governing public company reporting and disclosure requirements related to inventory and audit procedures
Internal Revenue Code: Federal tax regulations affecting inventory accounting methods and valuation for tax purposes
AICPA Standards: Professional standards set by the American Institute of Certified Public Accountants governing audit procedures and reporting
International Standards on Auditing: Global standards for conducting audits that may need to be considered alongside US requirements
PCAOB Standards: Public Company Accounting Oversight Board requirements for auditing public companies, including specific inventory verification procedures
Uniform Commercial Code: Particularly Articles 2 and 7 governing sales and warehousing operations in commercial transactions
OSHA Requirements: Occupational Safety and Health Administration regulations affecting workplace safety in warehouse environments
Fair Labor Standards Act: Federal labor law affecting warehouse worker rights, wages, and working conditions that must be considered during audit procedures
Data Protection Laws: Federal and state regulations governing the handling and protection of sensitive business and personal information during audit processes
Environmental Protection Agency Guidelines: Federal environmental regulations affecting warehouse operations and storage of potentially hazardous materials
Workers' Compensation Laws: State-specific requirements for insurance coverage and worker protection that must be verified during audits
Professional Liability Insurance Requirements: Insurance requirements for auditors and warehousing operations to protect against potential claims and losses
