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Stock audit urgent sir!!!

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(Querist)
27 March 2012 Dear Experts,
This is the 2nd time i am posting this simple query, very important for me. If any experts view this do reply this. How to perform a stock audit?
I need to know abt. it because my office might ask me to do that since 1st april 2012 is fast approaching. Hope all the experts know the importance of stock audit.
With regards,
Rajesh.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 March 2012 You have to physically verify the stock and compare the same with the stock as per books.

Any variances observed are to be reported and adjusted in the books.
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CA. SHIVA SHANKARA R. SHETTY

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CA. SHIVA SHANKARA R. SHETTY (Expert)
28 March 2012 1. Go to client place and ask the concerned person for list of materials.
2. He will give stock statement consists of material name, quantity, Nos, Value as on that date, etc.
3. Take one assistant to count the materials.
4. Verify actuals with the stock statement.
5. Any discrepancy, note down.
6. In case, number of material high in volume, then conduct the stock audit on sample basis.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 April 2012 Experts have given proper reply to your query and I agree with them
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 April 2012 Mr CA SS Agarwal, please try to add value with your replies.

Do not add unnecessary replies to a query.
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