Process: SBS-P-DRTR-03-001 Inventory Valuation

Responsibility area: SBS-P-DRTR-02-004 Internal Control  

Risk

All materials aren't counted   

Objective

FRA ensures that plant physical inventory procedure is updated every year, that physical count coverage comply with group rules and that auditors can supervise physical inventory organized during Q4


Process description

Physical inventory objective is to check the existence and ownership of inventories.

Control description

FRA

  1. updates plant inventory procedure and control compliance with group rules
  2. coordinates with Physical Inventory Manager (PIM) execution to reach defined targets at end of September and of December.
  3. publishes last quarter physical inventory planning and require GCCO validation for exceptions to the rules defining the physical coverage rate for year end.
Former Controls

IAC 04.13.00.01 / IAC 04.13.00.03 / IAC 04.13.00.04

Scope
Frequency

Last working day of September and of December

Control owner

Finance Responsible Assigned (FRA)

References

 

Control evidences

 

 

  Guideline  

Download the file : IAC.02.03 : control evidence

There are 4 sheets in the file

2 sheets must be filled:

  1. "Inventory Check-List/FRA" in English or in French




  2. Procedure

 

Start to fill :

  1. the site
  2. the controller's name
  3. the date
  4. the period

Then answer "Yes" "No" or "N/A" to confirm that each control is performed .

 

If the answer is "No" or "N/A", it is compulsory to add a comment in column H


It is possible to add a control evidence (attachment or a link)

1. Attach your validated procedure describing how items excluded from slow turn reserve are identified


  1. Choose "insert"
  2. Click on the "Object" button
  3. This window will open
  4. Select "Create from File"
  5. Add you file by clicking in "Browse"
  6. Select "Display as icon"
  7. Select OK

2. Enter the sales force ticket that was used to submit the calculation to the service center.

 

Approval emails sent by GCCOs must be saved in pdf.