Administration Manual - B.E.S.T. Undertaking.

1. 1. ESTABLISHMENT:-
The Stock Verifier is under the overall supervision and control of the Asst.
General Manager (Audit). He is assisted in the routine work of the section by
such numbers of Audit Assistants (Inspection) as are sanctioned by
Management from time to time.
1.2. OBJECTIVES:-
The objects of the Stock Verification Section are to ensure that –
a) materials purchased accord with descriptions and specifications shown
on Bin Cards;
b) actual balances of materials in stock agree with the balances shown on
Bin Cards;
c) excesses/shortages, if any noticed during the course of verification are
properly investigated and accounted for;
d) materials are stored in a proper manner to ensure that -
i) they do not deteriorate in quality;
546
ii) they are safeguarded against thefts and Pilferages,
breakages and damages, etc. and
iii) the floor area or other space allotted for storing the
materials is economically used;
e) non-moving or slow moving items are reported to the A.G.M.(M) to
enable him to take suitable action in respect of the non-recoupment
and/or disposal of such items.
1.3 RESPONSIBILITIES:-
The Stock Verifier and his officers are responsible for –
a) verification of all stores stock items once in the course of the financial
year, including HSD and Petrol at various Depots quarterly/annually,