Upon completion of audit work, an IS auditor should distribute a summary of general findings to the members of the auditing team. This is to ensure that the audit team members are aware of the audit results, have an opportunity to provide feedback, and can agree on the audit conclusions and recommendations.
Providing a report to senior management prior to discussion with the auditee, providing a report to the auditee stating the initial findings, and reviewing the working papers with the auditee are not appropriate actions for an IS auditor to take upon completion of audit work, as they may compromise the audit independence, objectivity, and quality. References: ISACA CISA Review Manual 27th Edition, page 221

Given the large volume of data transactions, continuous monitoring is the best testing strategy for auditing the inventory control process. Continuous monitoring involves the automated review of operational and financial data to identify anomalies or areas of concern12. This approach allows for real-time identification and resolution of issues, making it particularly effective for large organizations with high transaction volumes12.
References: ISACA's Information Systems Auditor Study Materials1