11 December 2009
Now I am on audit of trading company, it deals with buyer according to consignment.So during the audit what complianc should be fullfilled b me? Plz suuggest,......
15 December 2009
Whatever stock is held with the consignee at the end of the accounting year; the same should be included in consignor's stock at cost if it is overpriced while sending to the consignee.
A confirmation from consignee regarding holding of stock on behalf of consignor should be obtained.
Check also the statement of consignment sales made by the consignee.
Account confirmation from consignee should also be obtained.
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