This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our PRIVACY POLICY for more information on the cookies we use and how to delete or block them.
  • Quarantine effect on auditors at home during Corona lockdown

Quarantine effect on auditors at home during Corona lockdown

17 avril 2020

I have realised our home & kitchen is the most mismanaged place. 

Following anomalies have been observed :,

1. There is no stock ledger maintained. Procurement is not in line with provision factor. Purchase orders are placed verbally. Inventory maintenance is very poor.
2. There is no budgeting documents.
3. There is no indexing of products.
4. No bin cards were displayed.
5. No Annual, monthly or quarterly stock taking has been carried out.
6. No Inspection has been carried out for years. Most of the spoons and plates are of wrong pattern and do not match with the original part number.
7. No procedure of Inventory valuation
8. Weighing scales non existing.
9. No handing over /taking over files maintained.
10. No SOP and menu displayed.
11. Fire fighting equipment not held.
12. Sufficient reserves are not maintained.
13. Annual balance sheet and other financial statements have not been prepared since inception.
14. Lot of unaccounted cash was found in many boxes in the kitchen.
15. We understand that many items are lent / borrowed to / from neighborhood families but no records have been maintained. Periodical balance confirmations were not made available for inspection.

Auditor at Home. 😉