Regulation 36 — REGULATIONS_AUDIT

(1) establishment of the need for procurement of stores; (2) proper assessment of requirement of stores, including, where applicable, determination of reserve stock limits; (3) authorisation of procurement of stores; (4) procurement of stores in a cost-effective manner in accordance with the prescribed systems and procedures; (5) receipt, inspection, custody, issue and accounting of stores including appropriate segregation of duties of personnel and reconciliation of store accounts with books of accounts; (6) verification of physical balances at prescribed intervals, and reconciliation and resolution of discrepancies between physical balances and balances as per the records without delay; and (7) identification of obsolete and surplus stores, their disposal by way of sale and/or transfer to other units, divisions, etc. and accounting of corresponding receipts, or write off after proper investigation.

36. Audit of stores and stock Audit of stores and stock involves verifying that adequate and sound systems and procedures are in place and complied with for: