IAC.02.07. Inventory reserve 


Process: Inventory Valuation

Responsibility area: Internal Control Monitor  

Risk

Net realization value inventory reserve does not comply with group rules

Objective

GCCO updates every year slow turn inventory reserve calculation procedure for his/her perimeter

 

Process description

 Inventories shall be measured at the lower of cost and net realizable value.

 

Control description

Syensqo GBS is preparing and sending the report with the Inventory reserves to the FRA and/or GCCO for analysis and validation






Scope:
WP2 & PF2
Frequency
Quarterly basis (Last working day of March, June, September, December)
Control owner

GCCO

References


Control evidences



  Guideline  


1 Comment

  1. Jean-Pierre Godbillon

    Jae-Chul Han

    Could you please include information regarding SAP instruction ?