Stock Verification Committee

Role & Functions of the Committee

1. Annual physical verification of all stock items in laboratories, library, offices, computer labs, and departments.
2. Checking accuracy of stock registers, issue registers, consumption records, and purchase entries.
3. Verification of equipment condition, functional status, and requirement for repair or replacement.
4. Identification of non-functional, obsolete, or damaged items for further action (repair/write-off).
5. Cross-checking purchased items with bills, purchase orders, and supply records.
6. Ensuring proper labeling, safety, and storage of chemicals, consumables, glassware, IT equipment, and furniture.
7. Preparing consolidated stock verification report for submission to Principal and IQAC.
8. Coordinating with departments for smooth completion of annual stock verification.
9. Ensuring compliance with institutional, audit, and government norms.
10. Maintaining documentation required for NAAC, AAA, and statutory audits.
11. Leads and supervises the entire stock verification process across departments.
12. Prepares the annual schedule and guidelines for stock verification.
13. Allocates work to committee members and departmental staff.
14. Conducts meetings to review progress and address discrepancies.
15. Verifies sample stock entries personally and endorses the final report.
16. Ensures coordination between storekeepers, HODs, and accounts section.
17. Approves recommendations for repair, replacement, or write-off of unusable items.
18. Submits the final signed Stock Verification Report to the Principal and IQAC.
19. Ensures maintenance of proper documentation for internal/external audits.
20. Resolves disputes or mismatches found during stock checking.
21. Conduct item-wise physical verification in assigned departments and labs.
22. Check and tally stock registers with actual quantities and condition of items.
23. Report discrepancies, shortages, or excess items to the chairman.
24. Record details of damaged or unusable items for repair or write-off proposal.
25. Assist departments in updating and maintaining stock registers.
26. Verify calibration/working status of instruments and equipment (where applicable).
27. Ensure proper storage practices for chemicals, equipment, and documents.
28. Prepare item-wise verification sheets and submit to the chairman.
29. Support the compilation of the final Stock Verification Report.
30. Maintain confidentiality and accuracy during verification and reporting.