9/22/2016

InternalAuditChecklistofImportPurchases

InternalAuditExpertClaimyourexpertise

468google(2)

Home
SubmitObservation
SubmitChecklist
SubmitWhitepaper
Observations
Checklist/AuditProgramme
WhitePaper
WhitePaper

468google

InternalAuditChecklistofImportPurchases

WrittenbyJitendraKhatri
Category:IAChecklists/AuditProgramme
Hits:27685
UserRating:
Poor

/25
Best Rate

Check whether any Detention charges / Demurrage charges have been paid to the clearing and forwarding
agentsascertainthereasonsforthepaymentsofdemurrage/detentioncharges.

Ascertainwhetherdemurrage/detention/terminalhandlingcharges/freetimeallowedforthecontainersbythe
suppliers as per the terms of the purchase order to be borne by the suppliers have been recovered from the
suppliers.

CheckwhetherTDShasbeenmadefromthebillsoftheclearingagents.

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

1/8

9/22/2016

InternalAuditChecklistofImportPurchases

EnsurethattheAdvancelicencesarefullyutilized.

EnsurethattheimportspurchaseshavebeenmadewithintheLCValidityperiod.

CheckwhetheranyLCextension/revalidationchargeshavebeenpaid.

CheckwhethercustomsdutyhasbeenpaidforimportsofmaterialinspiteofAdvancelicencesbeingavailable.

Checkwhetherexcesstimeistakenfortheclearanceofmaterialfromthecustomsoverandabovethegrace
period/freetimeallowed.

Checktheagreement/contractwiththeclearingagentandensurethatthetermsandconditionsofthecontract
arecompliedwith.

oObtainthestatusofAdvancelicenceutilisation.
Ensurethatproperoffersweremadebythesuppliersandquotationscalledfromasufficientnumberofforeign
sources/comparativestatementspreparedbeforereleasingthePOforimportsfromaforeignsource.Checkthe
PurchaseOrdersonthebasisofPurchaseregisterItemwise.

Observetheratevariationoveraperiodoftimeintheratespaidtotheforeignsuppliersforthesameproduct
andenquireintothereasonsthereof.Scrutinisetheoffers/quotationsofforeignsuppliers.

Carryoutacomparisonofratespaidtotheforeignsupplierswiththeratesprevailinginthedomesticmarketand
commentuponthecaseswherethedomesticratesarelowerascomparedtotheimports.

Inquirewhethereffortshavebeenmadetodevelopcheaperdomesticsourcesandcommentuponthesame.

CheckwhetheranyamounthasbeenpaidtowardsAdvancelicencevalidityextension/revalidationcharges.
Suchexpensesareofanavoidablenature.

Check whether any customs duty / penal interest / penalty has been paid towards imports made but export
obligationnotfullfilledunderanAdvancelicence.

<Prev
Next>
Addcomment
Name(required)
Email(required,butwillnotdisplay)
Website

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

2/8

9/22/2016

InternalAuditChecklistofImportPurchases

Notifymeoffollowupcomments

Refresh
Send
JComments
activeTab:MostActiveUsers

MostActiveUsers
JitendraKhatri
44,538,352Points
DebashisGupta
2,016,700Points
Kavya
1,865,620Points

boxgoogle

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

3/8

9/22/2016

InternalAuditChecklistofImportPurchases

LoginForm
UserName UserName
Password Password
RememberMe
Login

Createanaccount

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

4/8

9/22/2016

InternalAuditChecklistofImportPurchases

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

5/8

9/22/2016

InternalAuditChecklistofImportPurchases

LatestObservations
INTERNALAUDITOFTRADINGCOMPANY
inventory
LackofSegregationInProcurementofServices
OpenPO
GRNDelays

LatestChecklists
InternalAuditchecklistofIT(System&FirewallSecurity)
ChecklistforProjectCost(CapitalWIP)
AuditinginSAPEnvironmentbyJitendraKhatri@DelhiChapter::IIA,USAon25Jun15
AuditEngagementLetter
secretarialchecklist

LatestWhitePapers
text
InternalauditinIndia:AProactiveInitiative
ContentofWhistleblowerPolicy
HowtomapInternalAudit(IA)StrategywithBusinessStrategy?
InternalAudit:WhereDidWeComeFrom,WhereAreWeGoing?NoahGotteSman

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

6/8

9/22/2016

InternalAuditChecklistofImportPurchases

IndustriesCovered
Advertising & PR, Airlines & Travel, Agriculture & Dairy, Architecture, Auto & Auto Ancillary, BPO & ITES,
Brewery & Distillery, Ceramics & Sanitary ware, Chemicals, Construction, Consumer Durables, Consulting Firm,
Courier & Transportation, Defense & Government, Diversified, Education & Training, Electricals, Electronics,
Entertainment, Fertilizers & Pesticides, FinancialServices, Fitness & Sports, FMCG, Food Processing, Foods &
Beverage, Gems & Jewelry, Glass, Healthcare & Hospital, Hotels & Restaurants, Industrial Products,
Infrastructure,Insurance,ITHardware,ITSoftware,KPO,LegalServices,Media&Dotcom,Mining,NGO&Social
Services, OilandGas, Paper, Pharma&Biotech, Plastic&Rubber, Power & Energy, Printing & Publishing, Real
Estate&Property,Recruitment,Retail,Securityservices,Shipping&Marine,Telecom&ISP,Textiles&Garments,
Tyres,Steel,Iron&Coal

AddThis
ProcessCovered
ProcuretoPay,ProcurementRawMaterial,Procurement,ProcurementDirectExpense,ProcurementCAPEX,
Payroll, Wages & Salary, Recruitment, Freight, Cab Transport, Travel, Repair & Maintenance, Administration
Expenses, Expense Provisions, Financial Close Process, Debt, Vendor Payment, Banking, Publicity &
Advertisement Exp., Donation, Inventory Management, Stores & Spares, Production Process, Capitalization
Process, Order to Cash, Sale of Goods, Sale of Services, Discounts, Brokerage, Insurance Exp., Fixed Asset
Verification,DepotOperation,C&FOperation

Google+,Google2+

Designedby:ThemeXpert

AddThisSmartLayers

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

7/8

9/22/2016

InternalAuditChecklistofImportPurchases

Recommendedforyou:
InternalAuditExpert

ChecklistofFixedAsset
Register

InternalAuditChecklistof
BankReconciliation
Statement

internalauditexpert.in

internalauditexpert.in

internalauditexpert.in

InternalAuditChecklistof
Production&Planning
Process
internalauditexpert.in

AddThis

http://internalauditexpert.in/whitepaper/15iachecklistsauditprogramme/117internalauditchecklistofimportpurchases?hitcount=0

8/8