WAQAS AND COMPANY

Ref. No. ST - INDEX

CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Physical Stock Taking

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 Stock taking Program ST - A

2 Signature and initial of audit staff ST - B

3 Signature and initial of authorized officers of client - For stock take ST - C

4 Time sheet of audit staff ST - D

5 Colors and ticks used ST - E

6 Cut-off data ST - F

7 Certificates from concerned officers ST - G

8 Physical stock take sheets ST - H

9 Attendance report ST - I

10 Points to be discussed with client / observations ST - J

11 Correspondance with client ST - K

12 Physical stock take checklist ST - L

13 Miscellaneous ST - M

Prepared by: Date:

WAQAS AND COMPANY
Ref. No. ST - A
CHARTERED ACCOUNTANTS

CLIENT: GREENS MILLS (PRIVATE) LIMITED INITIAL DATE

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012 COMPLETED BY:

STOCK TAKING PROGRAM REVIEWED BY:

The Inventory is one of the major item in the balance sheet of any client. Auditor should obtain sufficient appropriate audit evidence

regarding its existence and condition by attending at physical inventory counting unless impracticable. Such attendance will enable

the Auditor to inspect the inventory, to observe compliance with the operation of management's procedures for recording and

controlling the results of the count and to provide evidence as to the reliability of management's procedures.

To obtain assurance that management's procedures are adequately implemented, the auditor would observe employee's procedures
and perform test counts. When performing counts, the auditor would test both the completeness and accuracy of the count records
by tracing items selected from those records to the physical inventory and items selected from the physical inventory to the count
records. The auditor would consider the extent to which copies of such count records need to be retained for subsequent testing and
comparison.

Obtain the complete and signed list of the following:

List Physical verification
Sr. No. Description
obtained Initial Date
1 Raw material
2 Finished goods
3 Work in process
4 Stock in bonded warehouse
5 Waste
6 Stores spare parts and loose tools
7 Stock held by third parties
8 Stock held on behalf of third parties
9 Slow moving or dead stock
10 Fixed assets inventory
11 Banks and financial institutions

Yes, No, N/A

Cash in hand, at mills and at other offices is physically verified

and detail of said verification is attached.

All kind of investments are physical verified and detail of said

verification is attached.

Cutoff procedures have been applied.

Mr. _____________________

Designation:_____________________
Date: _____________________
WAQAS AND COMPANY
Ref. No.
CHARTERED ACCOUNTANTS

SIGNATURES AND INITIALS OF AUDIT STAFF

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Sr. # NAME SIGNATURE

1 Farid ud Din Ahmad

Supervisor

2 Zohaib
Senior

3 Ahmad
Semi-Senior

4 Ga
Junior

9
 ST - B

AFF

INITIAL

Moin

ASD
 Ref. No. ST - D
WAQAS AND COMPANY
CHARTERED ACCOUNTANTS

CLIENT: GREENS MILLS (PRIVATE) LIMITED

TIME SHEET OF AUDIT STAFF
PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Names Of Audit Staff

Date Day
Mr. Mr. Mr. Mr.

29-Jun-12 Friday
30-Jun-12 Saturday Farid ud din Ahmad Zohaib Ahmad Ga

1-Jul-12 Sunday
2-Jul-12 Monday
3-Jul-12 Tuesday
4-Jul-12 Wednesday
 Ref. No. ST - E
WAQAS AND COMPANY
CHARTERED ACCOUNTANTS

LIST OF TICKS AND COLOURS USED

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

TICKS USED

Opening Balance O/B //00.00// initial

Closing Balance initial //00.00// C/B

Verification 00.00

Posting 00.00

Calculation C 00.00

Casting 00.00

Cross Casting 00.00

Reconciliation 00.00

Contra 00.00 C

External Confirmation
-Sent 00.00

-Received 00.00

Physical Verification P 00.00

Observation / Query Q 00.00

COLOURS USED
Working Blue &
Black
Verification Green
WAQAS AND COMPANY
Ref. No. ST - F
CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Cut-off Data

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 Cut-off procedures / information ST - F/A

2 Physical verification of investment ST - F/B

 Ref. No. ST - F/A
WAQAS AND COMPANY
CHARTERED ACCOUNTANTS
CLIENT: GREENS MILLS (PRIVATE) LIMITED INITIAL DATE

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012 COMPLETED BY:

CUT-OFF PROCEDURES REVIEWED BY:

Fill up the following:

NUMBER BRIEF DESCRIPTION OF GOODS

RAW MATERIAL

1 Last purchase voucher

2 Last inward gate pass

FINISHED GOODS

3 Last outward gate pass

4 Last sale invoice

5 Last delivery order

STORE AND SPARES

6 Last purchase voucher

7 Last inward gate pass

8 Last store receipt

9 Last store issue

10 Last store indent

CASH AND BANK

11 Last cash receipt voucher

12 Last cash payment voucher

13 Last bank receipt voucher

14 Last bank payment voucher

SALES TAX
15 Last sales tax invoice
(use separate sheet if space is not sufficient)
 Ref. No. ST - F/B

WAQAS AND COMPANY

CHARTERED ACCOUNTANTS
CLIENT: GREENS MILLS (PRIVATE) LIMITED INITIAL DATE

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012 COMPLETED BY:

PHYSICAL VERIFICATION OF INVESTMENT REVIEWED BY:

DISTINCTIVE NO.
CERTIFICATE NUMBER NO. OF SHARES
FROM TO

Mr. Mr.

Designation( ) Designation( )
Waqas and Company
Chartered Accountants
WAQAS AND COMPANY
Ref. No. ST - G
CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Certificates from concerned officers

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 Cash in hand ST - G/A

2 Stocks ST - G/B-1

3 Investments ST -G/C
WAQAS AND COMPANY
Ref. No. ST - G/A
CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Certificates - Cash in hand

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 Cash in hand

i. Cash at head office ST- G/A -1

ii. Cash at mill / site

 Ref. No. ST - G/A-1

WAQAS AND COMPANY

CHARTERED ACCOUNTANTS

CASH COUNT STATEMENT

CLIENT: GREENS MILLS (PRIVATE) LIMITED PERIOD: For the year ended June, 30, 2012
DATE OF COUNT: June 30, 2012 TIME OF COUNT:

PLACE OF COUNT: ANNUAL / OTHER: Annual

No. of Notes Denomination Amount

x 1 =

x 2 =

x 5 =

x 10 =

x 20 =

x 50 =

x 100 =

x 500 =

x 1,000 =

x 5,000 =

Prize bonds

Revenue stamps

Sub total

Adjustments if cash is counted at the date other than

the cutoff date (if any).

Grand total

Balance as per cash book

There is no other cash in hand except that which is disclosed.

Mr._________________ Mr.
CASHIER Designation _________________
Waqas and Company
Chartered Accountants
WAQAS AND COMPANY
Ref. No. ST - G/B-1
CHARTERED ACCOUNTANTS
INDEX
CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Certificates - Stocks and stores

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO
1 Stores, spare parts and loose tools
i. At client's premises owned by client
a Stores
b Spare parts
c Loose tools
ii. Held with third parties
a Stores
b Spare parts
c Loose tools
iii. At client's premises owned by third party
a Stores
b Spare parts
c Loose tools
iv. In transit
a Stores
b Spare parts
c Loose tools
v. Damaged stocks and slow moving items
a Stores
b Spare parts
c Loose tools
2 Stock in trade
i. At client's premises owned by client
a Raw material
b Work in process
c Finished goods
d Waste
ii. Held with third parties
a Raw material
b Work in process
c Finished goods
d Waste
iii. At client's premises owned by third party
a Raw material
b Work in process
c Finished goods
d Waste
iv. In transit
a Raw material
b Work in process
c Finished goods
v. Damaged stocks and slow moving items
a Raw material
b Finished goods
c Waste
WAQAS AND COMPANY
Ref. No. ST - G/B-2
CHARTERED ACCOUNTANTS
INDEX
CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Physical Stock Take Sheets

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO
1 Stores, spare parts and loose tools
i. At client's premises owned by client
a Stores
b Spare parts
c Loose tools
ii. Held with third parties
a Stores
b Spare parts
c Loose tools
iii. At client's premises owned by third party
a Stores
b Spare parts
c Loose tools
iv. In transit
a Stores
b Spare parts
c Loose tools
v. Damaged stocks and slow moving items
a Stores
b Spare parts
c Loose tools
2 Stock in trade
i. At client's premises owned by client
a Raw material
b Work in process
c Finished goods
d Waste
ii. Held with third parties
a Raw material
b Work in process
c Finished goods
d Waste
iii. At client's premises owned by third party
a Raw material
b Work in process
c Finished goods
d Waste
iv. In transit
a Raw material
b Work in process
c Finished goods
v. Damaged stocks and slow moving items
a Raw material
b Finished goods
c Waste
 Ref. No. ST - J
WAQAS AND COMPANY
CHARTERED ACCOUNTANTS

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Sr. No. Points For Discussion Management Remarks

WAQAS AND COMPANY
Ref. No. ST - K
CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Correspondence with client

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 Stock taking intimation letter

2 Stocking taking confirmation letter

WAQAS AND COMPANY
Ref. No. ST - M
CHARTERED ACCOUNTANTS
INDEX

CLIENT: GREENS MILLS (PRIVATE) LIMITED

PERIOD: PHYSICAL STOCK TAKE AS AT JUNE 30, 2012

Miscellaneous

REFERENCE
Sr. # D E S C R I PT I O N
FROM TO

1 List of banks

2 List of authorised signatories of banks

3 Fixed assets