Stock Audit
This query is : Resolved
17 January 2008
Dear Sir,
I would be obliged if you kindly provide me some information on "Stock Audit" conducted by CA Firms on behalf of Banks.
Thanks ad regards,
Shankar
I would be obliged if you kindly provide me some information on "Stock Audit" conducted by CA Firms on behalf of Banks.
Thanks ad regards,
Shankar
Devendra Mishra
(Expert)
19 January 2008
Dear Shankar,
Banks sometimes hire CA firms for stock audit of companies where these companies have taken loan anainst such stocl may be raw material or finished goods ar even against debtors.
While verifying, please see the monthly stoch statement provided in the bank by the company, take the latest one and match it with the records of the company.
Also check what records have been shown in excise with respect to excise.
You just need to verify, whether the information given by campany of stock is correct or not.
Banks sometimes hire CA firms for stock audit of companies where these companies have taken loan anainst such stocl may be raw material or finished goods ar even against debtors.
While verifying, please see the monthly stoch statement provided in the bank by the company, take the latest one and match it with the records of the company.
Also check what records have been shown in excise with respect to excise.
You just need to verify, whether the information given by campany of stock is correct or not.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
