What is Retail Audit;
how to perform this with respect to bank;
and what should we cover while planning for this?
2 Replies
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 30 April 2020
A retail audit is a smart checklist. It is based on a form, has points, best-practice pictures, supporting files, conditional items, critical items and action plan recommendations. Retail audits, also called store walks or store inspections, help to check standards and to track deficiencies.
They let businesses assign corrective actions to resolve issues before they damage your reputation or bottom line. A retail audit allows head office to guarantee company standards and to deploy programs and policies in full, on time, in every location.
Retail audits promote higher overall compliance with brand standards at the store level. How? The practice of sending a district manager/CPG field representative into a franchise/store demonstrates compliance is a priority for the brand: the company is committing resources to this endeavor.
Completing the audit in store also reinforces brand standards for district managers/CPG reps. Describe the standard, attach a best practice photo or document, and weigh points or flag certain items so that auditors can easily identify company priorities.
Retail audits are not a passive activity. They offer the opportunity for members of head office to talk with store leadership and employees. Ask questions, listen, and offer resources.
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
