Stock Audit Template

STOCK AND BOOK-DEBTS AUDIT – REPORT OF
_______________________________________________________
CONDUCTED ON BEHALF OF BRANCH
BY
DATE OF VISIT
BANKING ARRANGEMENT
STOCK/RECEIVALBLES VERIFIED AS
OF
I. SUMMARY OF MAJOR OBSERVATION

T1
Result
Result Des cription
I. Value of Security available for drawing Power as on (As assessed by the Auditors)
Particulars Value (Rs in Crores)

Value of Stock
Book-debts (eligible)
Total Security
Finding Des cription
T2
II. Value of Security available for drawing Power as on(As assessed by the Company in
Result
Result Descrip tion
Stock/Book Debt Statements)
Particulars Value (Rs in Crores)

Value of Stock
Book-debts (eligible)
Total Security

T3
III. Shortfall in drawing Power, if any, as assessed by Auditors:
Test Result
Result Descrip tion
Choose an item.
Find ing Description
The Drawing Power after considering the above differences in the value of Security as computed is as
under.
PARTICULARS Amount (Rs in Crores)

Stock of Raw Material
Less : Creditors
Stock in Process
Stock of Finished Goods
Net Paid Stocks
Less:- Advances From

Customers
Less: Margin __% (Since the

stock for D.P. is Negative
Margin not taken
Value of Stock for D.P. A

Eligible Debtors (Below
_____ Days)
Less : Margin _____%
Value of Debtors for D.P. B
Drawing Power as per audit A + B
Drawing Power as per C

borrower
Balance Out Standing as on D
Shortfall in Drawing Power D-

(A+B)
T4
Result
Result Descrip tion
IV. Position of the account as on
i. Position of the
account as on the
date of inspection
(Rs. in Crores)
Limit
sanctioned Drawing Balance Excess over
Nature of facility
Power/Limit Outstanding drawing limit
1. Cash Credit
2. LC/Bank Guarantee
T47
Result
Result Descrip tion
V. Working Capital Position of the account consortium / Multiple Banking arrangement as on date
(Rs. In Crores)
Bank’s share Drawing Balance Irregular

Bank Name Total WC % Power Outstanding Amount
Total
T5
1.
Result
Result Descrip tion
STOCK : As per the statement submitted to the Bank as on
1) Stocks
Position of stock value as on (Rs. In Crores )
Stock <Place1>> <<Place2>> <<Place3>> Total
Value of Stock
Less Sundry Creditor
Total Paid Stock
Less Margin _____%
Drawing Power
Stock :
T6
i) Condition of Stock :
Test Result
Result Descrip tion
Choose an item.
T7
ii) Age of Stocks :

Test Result
Result Des cription
Choose an item.
Click here to e nter text.
T8
iii) Valuation of Stocks :

Test Result
Result Des cription
Choose an item.
T9
iv) Rejected stock :

Test Result
Result Des cription
Choose an item.
T10
v) Insurance Coverage :
Test Result
Result Descrip tion
Choose an item.
Clic k here to enter text.
T11
2) Receivables
Test Result
Result Descrip tion
Choose an item.
T12
3) Creditors
Test Result
Result Descrip tion
Choose an item.
T13
4) Other Areas covered (such as turnover in account, transactions with other banks etc.)
Test Result
Result Des cription
Choose an item.
MAIN REPORT
T14
1. Working Capital Facilities (FB + NFB) enjoyed with the bank and position of account with the
Result
Bank as per the borrower,
Result Descrip tion
The following credit facility is sanctioned.

Rs.(in Crores)
Excess Over
DRAWING O/S. AS ON
TYPE OF FACILITES SANCTIONED Drawing
POWER ____
Limit
FUNDED:[FB/NFB]
Cash Credit
Sub-limit:
Export Packing Credit
Total Fund based
T15
Result
Result Descrip tion
2. Security

3 System of Maintenance of Stock and Stock records :
T16
a) Physical Verification & Condition of Stocks.

 Display of Bank’s name plate
Test Result
Result Des cription
Choose an item.
T17
 Basis of Verification
Test Result
Result Descrip tion
Choose an item.
T18
 Location and upkeep of godowns :
Test Result
Result Descrip tion
Choose an item.
T19
 Comments on whether the Stocks are clearly identifiable and demarked:
Test Result
Result Descrip tion
Choose an item.
T20
 Observation on Verification
Test Result
Result Descrip tion
Choose an item.
T21
b) Verification of Stock sent/received For job work /in transit
Test Result
Result Descrip tion
Choose an item.
T22
c) Maintenance of Stock records (Including excise records, if any)
Test Result
Result Descrip tion
Choose an item.
T23
d) Age and quality of Stocks including position of slow/non-moving stocks in %
Test Result
Result Descrip tion
Choose an item.
Rs.(in Lacs)
To Total stock
Particulars Product Product Total
as on _______
Obsolete items
Non Moving Inventory
Slow Moving Inventory
Total
4 Valuation of Stocks :
T24
a) Basis of Valuation of raw material
Test Result
Result Descrip tion
Choose an item.
T25
b) Comments on discrepancies found
Test Result
Result Descrip tion
Choose an item.
T26
5) Insurance Coverage/availability of Bank clause/ Status of Claims made, if any
Test Result
Result Descrip tion
Choose an item.
T27
6)
a. Whether stock statement are submitted in prescribed format and within stipulated time
Test Result
Result Descrip tion
Choose an item.
T28
b. Whether letters of Credit opened during the relevant period and stocks received on account of
the same are properly reflected in the borrowers books and statement submitted to the branch.
Test Result
Result Descrip tion
Choose an item.
7
a) Analysis of Receivables.
T29
a) Major Customer of the borrower
Result
Result Descrip tion

T30
Result
Result Descrip tion
b) Verification of Receivables.
T31
c) Whether the quarterly statement of Book Debt submitted to the branch are duly certified by
Chartered Accountant.
Result
Result Descrip tion

T32
d) Discrepancies if any, found in reporting in verification of borrower’s records, bill/invoices raised

and statement of Book Debts submitted to the Bank.
Test Result
Result Descrip tion
Choose an item.
As per Statement
As per Audit Difference
Submitted
Particulars
< __ days > __ days < __ days > ___ days < ___days > ___ days
Export
Domestic
Total
T33
e) Whether advances received from the customers/discount allowed on sales are properly
accounted.
Test Result
Result Descrip tion
Choose an item.
T34
f) Whether receivables already advanced by way of bill finance are excluded in the book debt
statement.
Test Result
Result Descrip tion
Choose an item.
T35
g) Book debts of associate concerns
Test Result
Result Descrip tion
Choose an item.
8 Position of Creditors for purchase of Raw Material,:
T36
a) Whether outstanding amount of creditors is reported in the stock statement properly (including
unpaid bills under LC’s for goods) Outstanding on the date of verification.
Test Result
Result Descrip tion
Choose an item.
T37
b) Major Creditors of the borrower
Test Result
Result Descrip tion
Choose an item.
T38
c) Any long outstanding creditors, if so reasons.
Test Result
Result Descrip tion
Choose an item.
T39
9. Comment on treatment of inter-group /inter divisional sales/purchase and comments (to specifically
include comment if inter group transactions are on arm length basis)
Test Result
Result Descrip tion
Choose an item.
T40
10
a) Comment on production and sales of the Company
Test Result
Result Descrip tion
Choose an item.
T41
b) Comments on submission of quarterly Statement and actual performance vis-à-vis Quarterly

projections.
Test Result
Result Descrip tion
Choose an item.
T42
c) Comments on whether Sales of the Company is commensurate with Sales Tax Returns/ Quarterly
financials, if available.
Test Result
Result Descrip tion
Choose an item.
T43
11. Routing of banking transactions.
Test Result
Result Descrip tion
Choose an item.
T44
12. Other Discrepancies

Test Result
Result Descrip tion
Choose an item.
T45
13. Variance, if any, in calculation of drawing power as per Bank’s guidelines.
Test Result
Result Descrip tion
Choose an item.
Value as Value as
Reasons for
Particulars assessed by reported by Variance if any
variance
Auditors company
Stocks
Receivables
T46
Additional Remarks (if any)
Test Result
Result Descrip tion
Choose an item.
With the above reporting we conclude our above report which we believe to be examined in best of our
knowledge and according to information and explanation as necessary given to us for Verification and
inspection of the stock and Book-Debts.
AuditName
BCR - SHAKUN POLYMERS LTD 2018-19

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STOCK AND BOOK-DEBTS AUDIT – REPORT OF

I. SUMMARY OF MAJOR OBSERVATION

Particulars Value (Rs in Crores)

Finding Des cription

Particulars Value (Rs in Crores)

Finding Des cription

III. Shortfall in drawing Power, if any, as assessed by Auditors:

PARTICULARS Amount (Rs in Crores)

Stock of Finished Goods

Net Paid Stocks

Less:- Advances From

Less: Margin __% (Since the

Value of Stock for D.P. A

Less : Margin _____%

Value of Debtors for D.P. B

Drawing Power as per audit A + B

Drawing Power as per C

Balance Out Standing as on D

Shortfall in Drawing Power D-

Finding Des cription

Bank’s share Drawing Balance Irregular

Find ing Description

Position of stock value as on (Rs. In Crores )

Stock <Place1>> <<Place2>> <<Place3>> Total

Less Sundry Creditor

Total Paid Stock

Less Margin _____%

ii) Age of Stocks :

iii) Valuation of Stocks :

iv) Rejected stock :

The following credit facility is sanctioned.

Export Packing Credit

Total Fund based

Finding Des cription

Finding Des cription

3 System of Maintenance of Stock and Stock records :

a) Physical Verification & Condition of Stocks.

 Location and upkeep of godowns :

 Comments on whether the Stocks are clearly identifiable and demarked:

b) Verification of Stock sent/received For job work /in transit

c) Maintenance of Stock records (Including excise records, if any)

d) Age and quality of Stocks including position of slow/non-moving stocks in %

Non Moving Inventory

Slow Moving Inventory

a) Basis of Valuation of raw material

b) Comments on discrepancies found

5) Insurance Coverage/availability of Bank clause/ Status of Claims made, if any

Finding Des cription

Finding Des cription

Finding Des cription

d) Discrepancies if any, found in reporting in verification of borrower’s records, bill/invoices raised

g) Book debts of associate concerns

b) Major Creditors of the borrower

c) Any long outstanding creditors, if so reasons.

b) Comments on submission of quarterly Statement and actual performance vis-à-vis Quarterly

11. Routing of banking transactions.

12. Other Discrepancies

13. Variance, if any, in calculation of drawing power as per Bank’s guidelines.

Additional Remarks (if any)

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