Clients : Code :

INVENTORY QUESTIONNAIRE
PHYSIQUE Folio :

Exercise: Collaborator: Date:

I- Basic information:

Nature of stocks Value % Support Date taken Name(s) of Function

By place if approximately inventory of inventory or some in
necessary e permanent e responsibilities of the company

100

Name and level of the intervening auditor(s):

Clients : Code :
INVENTORY QUESTIONNAIRE
PHYSIQUE Folio :

Exercise: Collaborator: Date :

Questions Evaluation of Verification of

procedures operation
II- INSTRUCTIONS :

Are written inscriptions established and transmitted:

to the person responsible for the preparation of the accounts?

b) To the staff participating in the physical inventory?
c) To the listeners?
2. Are the instructions satisfactory and
clear enough for the participating staff?

3. Are these instructions explained orally before the

start of the inventory?

4. Are all storage locations and all types of

Are stocks covered by the counting? In particular, is it
the procedures for the treatment of stocks in transit,
stocks held by third parties or on behalf of third parties, and of
damaged stocks, slow-moving or unsellable are
correct?
III- ARRANGEMENT AND IDENTIFICATION:

1. The division of storage areas into sections, and the

stock arrangement, do they allow for the execution of
counts with ease?
2. Is access to the premises limited to certain people?
authorized?

3. Is the inventory identification done? (For example:

labels)
Is there a double counting system?
5. In the case of a difference between the quantities observed
during double counting, is the procedure for
Is the determination of the quantity to be retained satisfactory?
Clients : Code:
INVENTORY QUESTIONNAIRE
PHYSIQUE Folio :

Exercise: Collaborator: Date :

Questions Evaluation of Verification of

procedures operation
6. Are the counting sheets or forms
numbered and assigned by counting section?

IV- PERSONNEL AND SUPERVISION :

Are the counting teams made up of at least

less a nobody independent you service
supplies and not having responsibilities for the
stores, stock sheets or the kardex?

2. The people who are part of the counting teams have-

the technical knowledge necessary to do well
identify the stocks?

3. In case the answer to the question is "no", do we

can trust the quantities recorded by the
counting teams? Why?

4. The allocation of responsibilities concerning the sections

Has it been done to cover each team?

5. The numbers of the assigned counting sheets or forms,

the numbers of the sheets (cards) used and returned blank
Are the inventory managers being monitored?

6. Are all operations carried out under the

supervision of an independent security manager and
the inventory recording?

7. Does this person check that all stocks have been

counted?
Clients : Code :
INVENTORY QUESTIONNAIRE
PHYSIQUE Folio :

Exercise: Collaborator: Date :

Questions Evaluation of Verification of

procedures functioning
[Link] AND RECORDING:

Are the counting techniques to be applied correct?

defined for the different articles (Weigh, measure,
count) ?
2. Are the contents of the boxes and other packaging
verified, or is it done solely through the recording of the
quantities indicated on the labels? Consider the necessity
to collect samples for verification (Products
chemicals, wines...

3. Are the start and end times of the counts

fixed?

4. Is the recording of quantities done in such a way that it does not

cannot be changed?
5. Are the counting sheets signed by the team and
the head of each section?
VI. INFORMATION TO ESTABLISH OWNERSHIP OF
STOCKS AND CARRY OUT THE ACCOUNTING STOP

Are the inventory entries and exits made on the

database of pre-numbered entry and exit vouchers?

2. If the answer to the question is 'yes', note down the numbers

the last entry and exit vouchers before the closure
accountant and the numbers of the first entry vouchers and vouchers
of exits after the accounting stop.
3. In case the answer is 'no', what measures are put in place
in place to determine the ownership of all stocks
subject to counts?
Clients : Code :
Physical inventory questionnaire
Folio :

Exercise: Collaborator: Date :

Questions Evaluation of Verification of

procedures operation
4. Depending on the elements of response to the question
previous, gather the necessary information. Otherwise
consult the inventory manager and find a
solution, or notify the mission leader.
5. The movements of stock from a storage location to a
Did they stop during the physical inventory taking?
6. Gather the necessary information to verify that the
stocks that are subject to movements are not counted
twice or entirely omitted – voucher numbers
production, raw material input and supplies in production,
etc.
7. Are there shipments made directly by the
suppliers to customers or subcontractors?
8. Have we gathered the necessary information for
check that the recording in the stocks of these
Is direct shipping correct? Pick up the latest.
shipments before and the first shipments after
the physical inventory.
Is there a comparison between the inputs and the outputs?
on the stock sheets and the receipt slips and
of shipment, to verify that the dates of the latest
movements before inventory and the dates of the first
Are the movements after the inventory correct?
10. Have the items received on consignment been
identified and counted separately?
11. Have confirmations been requested for the held stocks?
by third parties?
12. The items already sold and invoiced for which the customer assumes the
transport, and which are always stored in the company,
Have they been identified and counted?
13. Has the company reached an agreement with the clients on the
stocks belonging to clients but held by it?
Clients : Code :
Physical inventory questionnaire
Folio:

Exercise: Collaborator: Date :

Questions Assessment of Verification of

procedures functioning
VII- COMPARISON WITH THE STOCK SHEETS
AND MONITORING PROCEDURE:

Are the counts compared with the stock sheets?

by people other than the storekeepers and the teams of
counting?
2. The reasons for differences between the counted quantities and
Are the quantities on the stock sheets being looked for?
3. The adjustment of stock records due to a difference
Is it approved by a person in charge other than the
warehouse worker?
4. A summary list of all the observed differences
Is the physical inventory compiled and communicated?
to the heads of Finance and Production services.
VIII- AUDIT PROCEDURES:

In addition to the work required to answer the questions

posed above, the auditor must carry out the controls
following to be able to make a judgment on the seizure of
stocks :

2. Follow the counting teams. Count at the same time

what they are and note if the teams are doing their job well.

3. Monitor stock movements during inventory.

Investigate the reasons for these movements and ensure that
the inventory is not distorted as a result.
4. Select a number of packaged products and
check that the content matches in quantity and quality
on the label. Check the result against the counts made by
the counting teams.
Clients : Code :
Physical inventory questionnaire
Folio:

Exercise: Collaborator: Date :

Questions Evaluation of Verification of

procedures operation
5. At the end of the inventory:
a) Select a certain number of items from the
counting sheets, count them wherever they are stored,
and compare the result with the counts made by the
teams.

b) Take a tour of all the storage locations and determine

if all the stocks have been counted.

c) Be careful with stocks that seem to be in bad condition

state, and check if this fact has been reported by the teams of
counting, and reported to the authorities.

d) Check if all the assigned counting sheets have been

returned by the counting teams.

e) Verify by sampling that the counting sheets specify

clearly the counting units.
General conclusions of the physical inventory control manager.

Feedback on the physical inventory capture:

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Recommendations to make for improving the entries in the following exercises:

(possibly refer to letter of recommendation)
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Date : Signature :

Director's observations:
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Date : Signature :