Audit Program: Retail store sales audit
AUDIT PROCEDURES Ref.
i) to ensure latest selling price is uploaded to store point-of-sales (POS) system.
ii) to ensure sales and stock movements are captured in POS system promptly.
iii) to ensure cash, inventory and store are properly managed and safeguarded.
iv) to ensure inventories are in good condition.
v) to ensure store generates reasonable gross profit.
1. Overall control
i) Pre-sales audit, check with sales administration staff whether latest selling price
has been uploaded to store POS system.
ii) Before commence of sales audit, check with cashier / sales staff whether they
have inputted sales in a timely manner.
iii) Enquire whether stock movements (i.e. goods in / transfer) have been captured in
a timely manner.
iv) Check with sales staff whether the store has consigned inventory / consignment
v) Enquire whether the store has any receivable (e.g. customer paid by credit card).
vi) Check with cashier whether the store has paid petty cash from sales amount.
vii) Check with cashier for any overnight lock box /safe,
viii) Evaluate physical security of cash, inventory and store.
ix) Test check selling price displayed to POS system to ensure update of price tags.
2. Inventory and cash count
i) Observe physical count of inventory and cash performed by sales staff / cashier.
ii) Reconcile physical count result to POS system record.
iii) Investigate reason of stock discrepancy.
iv) For physical stock exceed book record, check whether on store product master
v) Check whether sales return is with original receipt and in good condition.
vi) Ensure cash coupon / gift certificate presented is valid and stamped void upon
vii) Investigate reason of cash over / shortage.
viii) Ensure physical count results are inputted to
3. Other control issues
i) Check whether cash kept in store is within overnight cash limit.
ii) Evaluate whether stock level is reasonable.
iii) Evaluate physical condition of goods.
iv) For food and beverage items, check for goods expired / near expire date.
v) Ensure sales return / damaged goods / write off are reasonable (compare to
percentage of sales).
vi) Match POS sales record to general ledger.
vii) Ensure gross profit generated is reasonable.
Done Time Date Date Checked
By Spent Expected Finished Remarks By:
Control Objective Risk if Objective Not Met
Workpaper Performed Date Date
Control Technique Audit Procedure Reference By Expected Completed
Budget Actual Document Reviewed
Hours Hours Reference Source By Remarks/Comments
Audit Program Area
Control Objective Risks
Control Control KeyControl? Frequency Owner Exceptions Type Document Mapping to
Activity Description Reference Standards
Question Yes No Comment
Finding Ref # Control Testing Finding
Management Response & Treatment