Auditors Concern


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    Hi There Ian, we have responded to your open ticket. Please feel free to reach back out if you have any other questions or specific concerns about your accounting, we would be happy to help!

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    Paul DeLeo

    I'm a CPA and former auditor.  Your auditors are correct to ask for a SOC report if your company is relying on Inventory Lab for financial reporting purposes.  I'd be pleasantly surprised if Inventory Lab has a SOC report.  Your auditors are most likely going to have to perform some more audit testing to determine whether they can rely on Inventory Lab's data.  That could be achieved by comparing, on a sample basis, Inventory Lab's transaction records against other data sources such as inventory purchase orders, Seller Central and bank deposits. Also, they'll probably never be comfortable with the lack of an audit trail showing all changes to Inventory Lab data.  Your company may need to create compensating controls for this internal control deficiency. 

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