I went for our annual stocktake.these are my experiences
Before we started counting we were put in pairs of two each and not to count as individuals.i suppose this is to ensure that mistake sare avoided when counting.
Secondly we were given pre numbered sheets on which to record the quantities that we were counting.i am sure the pre numbering is such that you do not miss one sheet when counting.
As we were counting those areas that we counted we were marking with chalk so that we do not count them twice
our internal auditors were present they were doing a random count of the inventory unlike us the accounts staff who had to count every item
i gathered the following on the external auditors
i)immediately they came they asked for the highvalue items.they did a random count on other materials but on the high value materials they ensured they counted them.i didnt understand why they were so particular on the high value items maybe someone can explain.
ii)they were given given protective clothing like dustcoats and boots.in addition to this they were given an equivalent of about 85 dollars each to buy some refreshments during the period of stocktake (7 days).does this 85 dollars amount to a modest gift or this could have impaired their independence.
iii)some of the items that they did not count ,they got the figures from us but they ensured that these were clearly marked that they relied on our figures.
After counting we entered the counted values in our stores system and then it produced a variance report because it compared what was sitting in the system with what we had entered.we worked on the variance reports with the stores keepers to provide explanations for those variances.
thereafter we produced a stocktake report where we even made some recomendations
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