Check List

GenINTERNAL AUDIT CHECKLISTIGeneralParticularsChecked ByRemarksAPermanent InformationName of Auditee -Organisation Type -Period under Audit -Unit Head -Audit Team -BDocumentation1Proper filing of all documents2Proper coding of all files3Proper indexation of all documents in each file4Original documents related to land, building, fixed asset and vehicle etc are kept in the custody of the Unit Head.5Unit head ensures proper security and safety measures for original and important documents to avoid theft, fire, rain or any other peril of whatsoever nature.6All important documents and correspondence are stored in soft format (PDF-Scanned Format) with proper listingCSecretarial1All the secretarial documents and the documents related to Registrar of Companies (ROC) are kept at the registered office of the Company.2All types of resolutions to be passed are drafted by the Secretarial department only.3The original signed copy of the resolutions passed are kept by the secretarial department at the registered office and the copy of the same are sent to the Unit Head for his records.4It is the responsibility of the Unit Head to intimate all the concerned departments about the change in designations or change in directorship /signing authorities or any other relevant change that need to be informed time to time on behalf of the company.5Minutes book and statutory registers to be kept and updated by the Secretarial staff. at the registered office.DSafety And Security Measures1Fire safety measures such as fire extinguishers, fire alarms and sign boards for NO SMOKING zone are kept2Doctor, Fire brigade, Police, bus and railway inquiry and higher management contact numbers are displayed at each desk.3A list of phone numbers of all the employees is displayed at each desk.4First aid kit is kept at easily accessible places5All the drawers are properly locked and a bunch of duplicate keys is kept with the unit head.6Safety training to labour and official persons.7Emergency medical training to staff by doctors.8Detail of Work stations is displayed at each desk in a proper format so that the complete information about the employees' name & designation can be shown.9Hardware security- no person is allowed to carry the system or take files from the system with prior permission of Immediate Boss.10All the important files/documents kept in soft copy is secured through unique file password.ELegal1All the original documents related to Intellectual Property Rights (IPR) i.e. Trademarks, copyrights, patents, ISO certificates. are kept with the Unit Head.2The original documents, notices etc filed by the legal advisor / advocate are kept by the Unit Head.3The proceedings of the same are summarized by the Unit Head with proper attachments and account statements.4Listing and documentation of legal and IPRs files is done as per points mentioned under Heading- DOCUMENTATION.FOutdoor & Vehicle1Any employee leaving the office during the official hours shall fill the duty pass and get it signed by the authorised person2The duty pass duly signed is listed and documented in a separate file3Separate log book is maintained for each vehicle, which is timely updated4The log book is checked, verified and signed by the Unit Head on daily basis5Any employee using his/her own vehicle for official purpose is provided with the conveyance allowance as per the limits decided by the Unit Head.

HRINTERNAL AUDIT CHECKLISTIIHuman ResourceParticularsChecked ByRemarksAREQUIREMENT ASSESSMENTCheck that details relating to manpower requirement is informed to the management 1month well in advance.-No. of Executive requiredKind of Executive requiredQualification requiredExperienceSalary Slab.BInterview1Check that interview is taken by a committee appointed for the purpose, comprised of minimum three members-One Functional Head Respective departmental head.One Higher official Unit HeadOne HR Manager /Executive2A proper form provided by the HR Executive is duly filled by the candidates.3The interview is conducted at Unit level for first phase and the short listed candidates are interviewed by the higher management for final phase.CLetter Of OfferOffer letter is given to the selected candidates within 2 days for their acceptanceDAppointmentCheck that1Appointment letter is given within 3 days of joining.2Personal data form/Service book is filled within 3 days of joining.3Terms and conditions associated with appointment presents a clear picture.4Complete code of conduct is provided to the candidate who thoroughly reads it5Code of Conduct shall be updated timelyETraining & Development1Probation period of 0-3 months is taken into consideration depending upon the work requirements.2Lock-in-period of one year on completion of probation period.3Performance appraisal during probation period and thereafter is done by the immediate boss and HR Executive and then the same is reported to the higher management.FLegal Compliances Relating To Hr-1Check for Applicability of various acts and its due compliance by HR Executive-The Apprentices Act,1961The Employees Provident Fund and Miscellaneous Provisions Act,1952The Employee State Insurance Act,1948The Factories Act,1948The Minimum Wages Act,1948The Payment of Bonus Act,1965The Payment of Gratuity Act,1972The Payment of Wages Act, 1936The Trade Union Act,1926The Workmens Compensation Act,1923Factory and Boilers ActThe Industrial Disputes Act, 1947Contract Labour (Regulation and Abolition) Act, 1970The Industrial Employment (Standing Orders) Act, 1946Air (Prevention and Control of Pollution) Act, 1981Water ( Prevention and Control of Pollution) Act, 1974The Environment (Protection) Act, 1986Noise Pollution (Regulation and Control) Rules,2000The Personal Injuries (Compensation Insurance ) Act, 19632All the required registers and documents as per above applicable acts is maintained.3Various challans are paid on time (i.e., Challan for PF has to be paid by 15th of next month and Challan for ESI has to be paid by 20th of next month)4Consolidated HR records are sent to the HR head for the group including details about all the compliances made by the Company by 25th of next month in the prescribed format.GAccidents & Causalities1Report of the accident is prepared on the same day in the prescribed format2Legal Provisions applicable are complied with.3Facility of free medical check-ups is provided to the employees at regular intervals.HAttendance1Daily attendance is taken either in morning or evening in Attendance Register2Separate register is maintained for daily workers & staff on probation2This register is checked and signed by two Executive (i.e. by HR Executive and Unit head)3Gate pass register is maintained. Entries relating to visitors is made in the register and at the end of the day it is verified by one authority.ISalary And Wages ProcedureCheck for-1Pay-scale and salary structure of the labour & staff.2Calculations relating to allowances, deductions, perquisites etc according to the provisions.3Overtime & Idle time workings4Salary payment by 10th of next month.5Proper workings of salary sheet and its authorisation thereonJLeave ProcedureVarious leaves taken by employees are classified in Paid, Casual, Sick and are allowed as per the HR PolicyKTERMINATION/RESIGNATIONProper notice or salary in lie thereof before resignation/termination as per HR PolicyLGRIEVANCE HANDLING1Any grievance relating to workplace is informed to immediate bosses or the concerned unit head who further reports it to the higher management.2Reporting is done both in verbal and written format.MEMPLOYEE RECREATIONAL POLICY1After completion of 18 months of service, promotion or hike in salary on the basis of performance appraisal and as per management decision.2Bonus amount would be calculated/decided depending upon the employee performance and at the discretion of management.3Employees should submit Self Appraisal Performance Report on quarterly basis.4Employee birthdays and anniversaries is given due consideration one Greeting card should is sent on behalf of the Company.5A suggestion or a compliant box is kept and it is the responsibility of the HR Department to check the same and reporting of the same to the unit head.NREIMBURSEMENT OF EXPENSESExpenses are reimbursed to the employees incurred for official purposes as per the decision of management committee.

Purch & InvINTERNAL AUDIT CHECKLISTIIIPurchase & Inventory ManagementParticularsConcerned PersonChecked ByRemarksAMaterial ControlCheck proper records for-1Availability of materialsJB2Control over the investment in materialJB3Reasonable PricesJB4Wastage ControlMS/JB5Control over the spoilage and obsolescenceMS/JBBPurchase1There should be at least two personnel for the purchase department with rights and duties as per the Purchase PolicyAM/JB2All the purchases are properly authorised as per the policyUpto Rs 5000/- Purchase ManagerRevenue purchase > Rs 5000/- Unit HeadCapital purchase > Rs 25000/- BODCRequirements1Requirement of the Stores Department is in accordance with the production schedule and on the basis of need of the particular item whether it is capital or revenue item is forwarded through Purchase Indent in 2 copiesTo be followed from 01-01-10DVendor Registration1The Purchase department registers the potential suppliers according to the required items in the prescribed format.2Check proper maintenance by Purchase manager of master list of the suppliersESelection / Assessment of the suppliers1Check for following aspects while selection of suppliers-QualityPriceTerms / Conditions (availability etc.)Transportation CostDiscountCredit Facilities2Final selection is vetted by a Team consisting of Purchase Manager, respective departmental head, finance / accounts person and if required the technical person of the company.3Tender is raised in the specified format for specific purchases along with terms & conditions of the companyIf any other method is followed, mention it-4Proper analysis of the quotations invited in the prescribed format5Proper explanatory note is prepared to state the reason for selection of particular supplier by the selection committee6Documentation of the analysis summary sheet with the POFExecution of Emergency Purchase1Check for following points-Reasons / ConditionsTime BasisPriceDealersOthers Credit Terms, Transportation, Taxation etc.2Finalised by a Committee comprising of-Purchase OfficerFinance / Accounts OfficerRespective Department HeadGPurchase Order1PO is prepared in 2 copies in the prescribed manner and is duly authorised>5000- PO to be made from 01-01-102Regular follow up of PO for timely receipt of materialsHMaster List for PurchaseCheck proper maintenance by Purchase manager of following master list of the suppliersIReceiving and Inspection of the Material :1All supplies at receiving department.2Check against Purchase Orders.3Inspection of material4Proper delivery of goods to the concerned department / store.5Proper authorization by the receiving authority.6All returns, shortage, rejection must be informed to the purchase as well as to the accounts department so that the payment to / debit notes on the suppliers should be made / raised accordingly.7Goods Receipts Notes (GRN) should be endorsed to accounts and sent to purchase department.8Purchase orders file should be maintained properly.9Receiving, unloading and unpacking the material delivered by the suppliers under delivery challans/ Invoices.10Checking quality of the material received by the Quality control department.JStores/Inventory Management1Proper counting of the material received and recording and classification of the same.2After receiving of the required material the invoice should be supported with the Material Inspection Report and sent to the accounts department.3Proper authorization and verification of the MIR by the purchase manager as well as the higher authority.4Control measures i.e. stock taking & supervision of the material received should be done on periodic basis (Monthly / fortnightly / weekly).5Separate authority for purchase and stock taking.6Continuous stock verification.7Shortage/excess of the material is reported to the purchase as well as the production department.8Any discrepancies / damages must be recorded and reported to the concerned authority.9There should be a proper control over the Scrap / Wastages / Damages/ Defectives etc.KClassification & Coding of Material1Proper classification as construction material, consumable stores, spare parts, tools etc.2Authentic code no. is allotted for proper distinction / descriptionLMaterial Control System :Analysis of Material / inventory according to their value, movement, quantity i.e. ABC ( High : Medium : Low value ) FSN ( Fast : Slow : Non moving )MInventory Records:1Daily Updation of Stores Ledger2Check Stores Ledger for proper stock keeping, recording material receipts, issues and balances3Issue of material from stores in proper format4In case of material transfer from one job to another job, the material transfer note will be prepared in 2 copies5Scrap / wastage should be recorded and reported in a proper format

ProductionINTERNAL AUDIT CHECKLISTIVProductionParticularsChecked ByRemarksAGeneralCheck that1Proper reporting is done by assistants to respective division in charge & further reporting by in charge to immediate boss2Proper listing of products with their respective codes and brand names3The record for no. of labour required to work at each machine for standard production is maintained as per given format4Calculation of idle time is done on percentage basis and in case the idle time exceeds 25% the reporting of the same to the higher management on daily/weekly basis with proper reasons5Calculation of overtime and recording of the same is done by the Production Manger and he further reports it monthly to the Unit head and the HR coordinator of the unit.6The total area covered by the production floor with its utility including storage for raw and finished goods is recorded in prescribed format.BMachineryCheck that1Fixed Assets Register is maintained & updated in the prescribed format2Proper coding for each capital asset3New Machinery-aThe requirement of new machines can arise due to following reasons:Increase in demandChange in technologyChange in product lineIncrease in productionbProper assessment is done by Production Manager/In charge approved by the Unit HeadcRequisition to the purchase department is sent for further processing as per purchase and inventory policy of the Company based on Quotation Analysis.dThe new machines is properly installed in supervision of the Technical person and the Unit Head and the reporting of the same is done to the higher management after installation.4Capacity Analysis of machines is done in the prescribed format5The upkeep and maintenance of machine is done on regular basis so as to increase their life and proper track of the machine overhauling is maintained in the prescribed format.6Separate machine log book is maintained and updated7User manual/instruction kit of machines is displayed through charts and hoardings at various places of factory.8Machine maintenance chart is displayed and updated for each machine near by the machine itself.9Proper reporting of machine breakdown/shout down is done by production in charge to unit head with valid reasons10Shut down for more than 3 hours is reported to Unit Head which further reports to higher managementCRaw materialCheck that1Need assessment is done by the Store-keeper and the authorization is done by the Production Manager/In charge.2Purchase of raw material is done as per the Purchase Policy3The Quality Controller properly verifies the quality of the raw material by taking samples and records the same in prescribed format.4In case the quality of the raw material is not of good quality, the reporting of the same is done to the Unit Head and higher Management .The whole lot of raw material is stored separately and Material Return Form is filled by the Store keeper, duly verified by the Quality Controller.5The raw material to the production is issued by the storekeeper/store in-charge after signing the issue slip. The production in-charge give its receiving through its initials on the issue slip after properly weighing the material issued.6The issue of raw material for production is on the basis of production plan which is based on demand & availability.DPROCESSMethod of production followed by Company-Job MethodBatch MethodFlow/Process MethodUniform MethodEFinished GoodsCheck that1The production Manager verifies the final product according to the standard production plan and records the same with deviations, if any in respect of quality and quantity both.aQuantity Analysis is done by the Production Manager as set out in master chart of the particular product.bQuality Analysis is done by the Quality Controller for the finished goods. The Master Card for the quality check is pasted at each such place where the production process is carried on.2Samples taken for above purpose are recorded in the quality check register. Verify the no. of samples taken per lot of production.3The finished goods inventory is maintained as per the Purchase and Inventory Policy of the Company.FWastageCheck that1Proper classification of wastage is done into Normal & Abnormal.2Classification as abnormal is done if wastage is occurred due to the following:Error in machineRaw material quality issuesPower cut with prior informationLabour mistakeAll other wastage which is not normal2The wastage is properly recorded in the wastage register/sheet on daily basis along with proper reasons and it is shown in the production MIS in the prescribed format.3The monthly average wastage is properly calculated and if the wastage exceeds the standard wastage than necessary steps to reduce the wastage are taken.

Sales CoordinationINTERNAL AUDIT CHECKLISTVSales CoordinationParticularsChecked ByRemarksARecording Sales Order1All the orders received are recorded in Sales Order Register in the prescribed format2Check for hard copy of orders received through emailBPrice List1Complete & updated price list for each product is kept with Sales Coordinator2The revision of price list is authorized and verified by the Unit Head and informed to the higher management.3Revision of the prices is, as per industry & market factors, and informed to the Sales Coordinator and Dealers/Distributors by the Unit HeadCInvoicing1Check that invoice is as per latest price list2Also check that it is according to the provisions of Excise, VAT/CST etc.3Credit terms & interest thereon & maximum & minimum credit period4Discount schemes5Check for any changes in the invoicing software and its reporting to higher managementDDispatch1Check that goods are removed as per applicable Excise Rules.2Also check Sales coordinator's responsibility that-The goods are properly checked as per sales order received.The duties and taxes are properly paid / charged.The transportation cost is accountedProper weight / measurement done.Gate pass / Outward note prepared.EVerification of Finished Stock1Inventory of Finished Goods kept by Sales Coordinator2Physical Verification of Finished Goods on monthly basis by Manager (Commercial) with proper recording of same in hard copy3Further, bifurcated as per the moveability and the value of the same .i.e. FSN, ABC analysis.4Check forProper utilization of the space.Proper codingPrecautionary measuresArrangement on the basis of moveability.FAfter Sales Service1If any after sales services are given by the unit, then the same shall be properly recognized and recorded.2After sales queries shall be handled by the sales coordinator.3If action is taken for solving the query then it shall be as per the rules of the unit and shall be informed to the Unit Head.GGeneralVerify age-wise analysis of debtors done by the Manager Commercial on monthly basis

MarketingINTERNAL AUDIT CHECKLISTVIMarketing PolicyParticularsChecked ByRemarksAMarketing ProcessVerify that the company is following prescribed marketing procedureSituation AnalysisMarket StrategyMarket Mix DecisionImplementationBSituation AnalysisCheck that following procedure is properly followed1Identifying customer needs & company's resources to fulfill those needs2SWOT Analysis as per the prescribed format3Market research conducted by Marketing Manager and reporting same to Production Manager/ Higher Management4The budget for market research decided by Unit Head with prior approval of Higher ManagementCMarketing StrategyCheck that following procedure is properly followed1Product Life Cycle - stage2Pricing Decision3Market study of product - seasonal demand4Authorisation of extra discount5Prospective buyers- identified by proper coordination from dealers6Prospective marketing territory analysis- unit head7Verify the Costing method used by Unit Head8Sanction of discount by unit headDMarketing Mix DecisionCheck that following procedure is properly followed1Proper classification of present brands as per size, quality etc2Verify the approval of higher management for introduction/exit of any brand/product3Proper market research before launching new product4Market survey to find potential market/product5Competitors analysis to know market position6Packing - Packing Standards & its inclusion in cost7Pricing - Revision after considering Market Analysis, Raw Material Price by Pricing Committee as per Marketing Policy8Distribution Channel (Place)/Placement:iChannel-Super Stockiest - Distributor - Wholesaler/RetaileriiVerify the selection procedure as per respective policy-The Financial Position of the dealerGoodwill in the marketCredit WorthinessPast Relations / recordsMarket Accessibility etc.iiiAppointment after proper application in the prescribed formativSecurity / indemnity bond / guarantee signed by the dealer.ivRegular follow up through marketing personnelvMargin of distributor approved by Unit HeadviReason for Sales Return- Payment or Quality sent to higher management9Product PromotioniVerify the approval of budget by the higher management after it is set by Finance Manager & Unit HeadiiAlso verify various schemes given to traders & consumers, set by marketing manager for its authorisationEImplementation & ControlCheck that following procedure is properly followed1Proper hierarchy for Marketing Control-BOD - Managerial Personnel - Unit Head - Marketing Manager - Sales Representative2Sales Control-iCheck weekly/monthly/quarterly/annual sales targets set product wise in the prescribed formatiiReporting of the SRs to Marketing Manager directly on weekly basis, having complete reporting of each SR separately for every product individually, comprising of daily detail in the form of DSR (Daily Sales Report).iiiMonthly sales appraisal shall be done by the Marketing Manager for all the SRs working under him in MSA (Monthly Sales Appraisal Form)ivCheck Turnover & Cash discounts as per applicable slabs

T&TINTERNAL AUDIT CHECKLISTVIITour & Travel AllowanceParticularsChecked ByRemarksAReimbursement Grades-1For CitiesA - All metropolitan & Capital citiesB - Cities with population < Rs 3LakhsC - Cities with population > Rs 3Lakhs2For EmployeesSpecial Grade - Unit Head & Higher ManagementGrade I - Regional Manager/Marketing ManagerGrade I - Functional Manager/Marketing ExecutiveBReimbursement of Expenses1Verify that reimbursement is as per Tour & Travel Policy, and claims are submitted with Tour Progamme approved by the Immediate Boss/Unit Head2Other reimbursement are as per discretion of Unit Head with proper justification3Verify the correctness & authorisation of claims4Verify limit for advance against tour at Rs 5000 and its adjustment later5Verify proper supportings i.e. travel tickets, hotel bills etc with the travel expense reimbursement bill.

TaxationINTERNAL AUDIT CHECKLISTVIIITaxationParticularsChecked ByRemarksACheck for applicability of various Acts1Income Tax2VAT3CST4Excise Duty5Service TaxBPaymentCheck that1Payment is made before due date by Authorised person2Proper due date chart is maintained and displayed.3The Unit Head intimates the Asst Taxation Manager about the statutory payments through mail/hard copy before 3 days of the due date.4Copy of challans is sent to Asst Taxation Manager by 10th of next month5Monthly consolidated report in prescribed format for all statutory payments is forwarded to Asst Taxation Manager6All the financials are certified by Unit HeadCFiling & Checking of ReturnsCheck that1All the challans and returns are submitted directly by the unit.2The same is verified by Asst. Taxation Manager before filing and confirmation sent3All legal compliances are fulfilled by Unit Head and the same is informed to ATM4The following returns are timely filedie TDS ReturniiExcise Return:iiiVAT Return:ivService tax Return:vESI & PF Return:DScrutiny/ Audit objection / Query from Govt. DepartmentCheck that1The information of the notice received by the unit from the department (i.e. Income Tax, Sales Tax etc.) is sent to the Asst Taxation Manager by the Unit Head.2Asst Taxation Manager checks the status of scrutiny/ audit objection/ query etc.3Asst Taxation Manager prepares the reply of the order / query received by gathering information requirements from Unit Head and send a copy to Unit HeadEGeneralCheck that1Any amendment in the applicable act is informed by the Asst Taxation Manager to the Unit Head with the due date of applicability.2Unit Head follows the Notification / circular (Direct & Indirect tax) issued by Govt. when informed by the Asst. taxation manager.3The following certified details are provided by Unit Head to ATM -iChallan of tax paymentiiLedger of the account.iiiAccount statement of party / Purchase / sales etc.ivRate of TDS/ VAT/ CST/ Excise Duty / Service tax / PF / ESIvStatement of VAT-7,VAT-8 & VAT-9viDetails of statutory forms (VAT forms) used during the period.viiLedger of VAT / Excise / Service TaxviiiReturn shall be Certified / verified by Unit head.ixReturn shall be authorized by taxation Dept.xReturn shall be filed on due date

FinanceINTERNAL AUDIT CHECKLISTIXFinanceParticularsChecked ByRemarksAStockCheck that1Age wise analysis of FG is done on monthly basis by the stores keeper and authorised by Manager Commercial2Physical verification is done monthly by unit staff3Proper classification of Non Moving Stock is done by unit4Above records are verified by Manager Commercial and reported to Unit Head, which further reports it to Finance OfficerBCashCheck1Physical cash in custody of Accounts assistant at least once a month, prefer surprise checks2The minimum & maximum cash balance at any point of time is Rs.10,000 and Rs. 1 Lac respectively3That physical cash is verified by person other than the person in who's custody cash is kept, which is further approved by unit Head4Payments > 20000 are made through cheque5That Assistant finance manager's surprise physical verification of the cash, done at-least twice a month6Cash Withdrawal Note for withdrawal of cash from bank which is authorised by Unit HeadCBankCheck that1Minimum bank balance at any time is Rs 50002Balance above a specified limit is invested in FD by approval of AFM3Monthly BRS is prepared by Mang. Comm and is sent to AFM after Unit Head's authorisation4The Cheque Details Register maintained by Ass. A/cs and vetted by Unit Head5The acknowledgement of the cheque received from the third party and the cheque issued to the third party6Proper recording of Bank Charges on monthly basis and informing the same to Unit Head and AFMDDebtorsCheck that1Age wise analysis on monthly basis is done by MC and the same is reported to Unit Head who forward it to AFM2Credit period & interest thereon as per Sales & Finance Policy3Quartly balance confirmation & turnover ratio is done by MC & reported to Unit HeadECreditorsCheck that1Payment is made through cheque only2Maximum credit period of 30 days or discount, as the case may be is availed3The Creditors Turnover Ratio is calculated on monthly basisFReal State PropertyCheck that1Proper listing of documents is done in the prescribed format2All original & chain doc are kept in custody of Unit Head3Physical verification is done by person appointed by UH & Managerial Personnel and reporting of same to AFM4Search Report is obtained at the time of purchase.5Insurance of Property- documented with Unit Head, Copy is kept with A/cs Dept.GInvestmentsCheck that1Proper Investment Register for recording of investments and its verification by UH is done2New investments are made only after proper approval by AFM3Proper investment note is prepared by the Finance Officer.4The original documents of the investments are secured by the Unit HeadHLoans & AdvancesCheck that1Proper requirement assessment is made by UH2Comparative Rate Analysis is done by UH, which is approved by the BOD3Proper documentation & A/cing is done by FO4Loan to Staff is as per Loan Policy

AccountsINTERNAL AUDIT CHECKLISTXAccountsParticularsChecked ByRemarksAVouchingCheck for1Separate voucher for expenses, sales (invoices) and purchases.2Separate vouchers for cash, bank and other transactions.3Signature of Maker, Checker & Authoriser as per slab4Proper documentation of each voucher5Proper verification each voucher before entryBSales1Following documents to be verified before invoicing-iPrevious Accounts status of DebtorsiiStatus of finished goodsiiiSales Order ReceivedivGoods Outward Note/ Gate PassvSale Price as per the current price listviDiscount as per schemeviiProper Duty / Tax Structure2Sales bill are to verified before dispatch by Excise personnelCPurchase1Following documents to be verified before revenue purchases-iPrice QuotationsiiPurchase IndentsiiiPurchase OrdersivGoods Inward Note/ Gate PassvRaw Material Inspection ReportviTaxation/ Duty Structure2Authorisation as per slab3Following documents to be verified before capital purchases-iPrice QuotationsiiPurchase IndentsiiiPurchase OrdersivGoods Inward Note/ Gate PassvTaxation/ Duty StructureDPayment To EmployeesFollowing documents to be verified before paymentiSalary Slab (As per HR Policy)iiProper calculation of deductions /allowances/ perquisites.iiiCalculation of PFivLeave taken by employee (As per HR Policy)vLoans and Advances given to employeesviSignature of the preparer and verifying authority on the salary sheet.(As per HR Policy)ELoans & AdvancesCheck foriDuly approved applicationiiTerms of LoaniiiFinance PolicyFOther PaymentsVerify for1Revenue Stamp for cash payment > Rs 50002Payment > Rs 20000 through cheque3Payment to creditorsiTerms of paymentiiMode of PaymentiiiAuthorisationGPayment to Govt AuthoritiesCheck foriDue DateiiWorkings by Functional HeadsiiiProper Cheque/Challan detailsivAuthorisationvMode of PaymentHGeneral1Fixed Asset Register - Maintenance & Updation2Physical verification on Quarterly basis - cross verified internally by unit staff3Information of the above is sent to AFM4Daily MIS shall be prepared on following basis :-iiPer Day ProductioniiiPer Day SalesvDaily Investment DetailsviDaily Machine BreakdownviiDaily cash inflow outflow5The Daily MIS (Management Information Systems) shall be sent to the FM by next day6Monthly Consolidated MIS to AFM-iMonthly production Detail of the unitiiMonthly turnover of the unitiiiMonthly bank reconciliation detailivMonthly fund flowvMonthly details of Challan /returns submitted to the various departments.