Stock audit
This query is : Open
19 March 2016
How to Chack Stcok Audit ?
19 March 2016
Main Objective of Stock audit is to compute the real drawing power of the the borrower.
Check for the Correctness of these aspects in respect of inventory - Quantity , Valuation and ownership. also verify the correctness and recoverability of book debts. Considering these aspects find the correct value of stock and book debts and compute Drawing power as per sanction letter.
apart from this reporting format of different banks also require auditors comments on other areas also. like internal control systems, comments on accounts and inventory records, various ratios, insurance covers, limits from other banks etc.
Check for the Correctness of these aspects in respect of inventory - Quantity , Valuation and ownership. also verify the correctness and recoverability of book debts. Considering these aspects find the correct value of stock and book debts and compute Drawing power as per sanction letter.
apart from this reporting format of different banks also require auditors comments on other areas also. like internal control systems, comments on accounts and inventory records, various ratios, insurance covers, limits from other banks etc.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
