Inventory reconciliation and audit
This query is : Open
27 November 2012
Dear Friends,
Please let me know the main points to be covered while doing Inventory Reconciliation and Inventory Audit?
Please let me know the main points to be covered while doing Inventory Reconciliation and Inventory Audit?
27 November 2012
-Verify the internal Control system.
-Conduct physical verification of stock quty and condition .
-Reconcile with the book stock
-cut off date and details like details last inward and outward and numbers of invoices.
-obtain list Material billed but not despatched to the customers .
-List of inventory damaged lying in the godown.
-Details of the material in transits.
-Obtain Materiel lying with the Third parties along with the certificate from them regarding qty, value and condition.
This list is not exhaustive. Other views welcome.
-Conduct physical verification of stock quty and condition .
-Reconcile with the book stock
-cut off date and details like details last inward and outward and numbers of invoices.
-obtain list Material billed but not despatched to the customers .
-List of inventory damaged lying in the godown.
-Details of the material in transits.
-Obtain Materiel lying with the Third parties along with the certificate from them regarding qty, value and condition.
This list is not exhaustive. Other views welcome.
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