27th February 2018
Robert Half Finance and Accounting are recruiting for an Internal Audit role at a within the retail industry in the Cardiff area on a permanent basis.
This section details the main responsibilities for this position. However, this is not a definitive list and a flexible approach to work duties is expected from all members of our team.
- Review the systems and procedures for stock-takes. Ensure that the stock-take procedures are well documented and make recommendations for potential changes to these procedures for discussion with the Board and store teams.
- Review previous stock loss summaries with a view to targeting areas of poor performance for improvement. Prepare proposed yearly stock loss targets by store and department. Once these targets have been agreed by the Board, ensure that they are distributed to the store inventory and management teams in a timely manner. Implement strategies to ensure that the stock loss targets are achieved.
- Draft a suggested stock-take timetable for the year which should ensure that all stock is counted at least once a year whilst minimising disruption to the business and avoiding key trading periods wherever possible. Distribute the proposed time table to the Board and store and inventory managers for review. Once it has been agreed, distribute the timetable to the business and to the external auditors.
- Ensure that all members of staff that have stock-take responsibilities have copies of the stock-take procedures and have been suitably trained on these processes.
- Take responsibility for the review and posting of discrepancies following each stock-take.
- Ensure independent sample checks are completed to verify counts.
- For items where a material stock loss has been identified during either a full stock-take or in sample testing, carry out reviews of the movement of stock on the Navision stock file with a particular focus on booking-in, inter-branch transfers (IBTs), inter-department transfers (IDTS) and previous stock-takes.
- Identify sections and suppliers requiring interim stock-takes.
- Review all systems and procedures for the accounting for stock include booking-in, inter-branch transfers (IBT's), inter-departmental transfers (IDT's), scanning of the sale of stock and make proposals for changes wherever appropriate. Ensure that these procedures are documented and distributed to the inventory and store management teams.
- Reviewing the accuracy of the booking-in of stock and liaise with the Head Office Purchase Ledger team to identify areas of concern in relation to the booking-in of stock. Ensure that all relevant staff are suitably trained on booking-in procedures.
- Monitoring stock movement between stores (IBT's) ensuring that all such movements are commercially appropriate.
- Monitoring stock movements into and out of the warehouse, making recommendations to ensure that there is optimum use of the facility.
- Monitoring Inter Department Transfers on a weekly basis. Investigating areas where stock is regularly being written off and implementing process improvements.
- Identify appropriate KPIs and produce an Inventory KPI report each week for each store reporting on-going or serious issues to senior management.
- Work with the store teams on effective stockroom management, highlighting areas of excessive stock-holding and working with the buying team to put strategies in place to ensure that stock levels are appropriate to sales.
- Ensuring systems are in place to highlighting key areas of stock outs in store to the buying team and working with them to improve stock availability.
- Reviewing the way Navision is used on an on going basis to ensure that ordering, replenishment, stock movements and stock holding is optimised.
- Ensure that procedures are in place to prevent internal theft. Ensure that regular security checks are carried out as a control measure.
- Monitoring returns, highlighting problem areas and ensuring that they are resolved with the Business Managers, Store and Warehouse teams and the Purchase Ledger team. Examining debit notes raised by the Purchase Ledger team that are disputed by suppliers with a view to identifying the reasons for the dispute and a strategy for the resolution of the dispute.
- Work with the teams to identify and implement strategies aimed at minimising the volume of returns within the business along with reducing damages to returned product and maximising the revenue that can be achieved from them.
- Auditing end of day processes in store to ensure that all returns have been correctly handled and all processes followed.
Ensuring Health & Safety Compliance
- Ensure that safe working practices are adhered to within your department
- Ensure that accidents to you, colleagues and customers are reported correctly
- Be aware of the health and safety practices concerning fire safety and the evacuation of the store
Robert Half Ltd acts as an employment business for temporary positions and an employment agency for permanent positions. Robert Half is committed to equal opportunity and diversity. Suitable candidates with equivalent qualifications and more or less experience can apply. By applying to this position, you acknowledge that you have read and accept the following terms: https://www.roberthalf.co.uk/privacy-statement