GENESIS

Stock Verification Groups were created in the Ordnance Factories on 26th October, 1949 and has been functioning since then, under the direct control of Director General Ordnance Factories.

PRESENT STATUS

GM was declared HoD of unit and consequence upon stock verification group was brought under the purview of GM w.e.f 14-7-2007

Responsibility Sr. General Manager/General Manager of the factory

being the Head of Department will be responsible for physical verification of store.

Annual Stock Verification Plan including Campus walls/Fencing/ yard/ buildings/ trees/ security blocks/street lights etc. shall be issued by MM Division/ OFB for each factory with the approval of the Member concerned.

Stock Verification Group shall be different and independent from the stock/inventory holder.

Works under direct control of GM carry out the verification as per the Annual Store Verification Plan given by the OFB.

Responsibility cont..

A copy of such report be sent to Principal Controller of Accounts (Fys) Kolkata, Director of Audit, MOD & MOD (Fin/DP).

Reports and Returns shall be mutatis mutandis is tendered as

per existing procedure and there shall be no change in it. The stocks shall initially be verified internally by factory staff in accordance with provisions of sub section-II i.e. para 4588 to 4593f of DGOF’s procedure manual. These shall be no deviation from Current General Financial Rules (GFR).

Method of verification The Stock Verification shall be done under the control of an

officer other than stock in charge. Stock Verification team will be constituted by the Sr. GM/GM. The officer deputed for stock verification should in no way be

involved in the physical custody of the stock or for keeping accounts thereof.

The Stock Verification Officer should directly report to Sr. GM/GM of the factory. The overall responsibility of the stock items, maintenance, its correctness and discrepancies, if any, shall be vested with HOD/Sr. GM/GM of the factory.

justified reasons for condonation through PCA(HQs). Sr. GM’s/GM’s/Verification Authority shall also be responsible for timely reporting and initiating remedial measures for encroachments, if any, in the factory premises etc. and shall take up the matter with the local/State Administrative Authority for getting the site cleared. They would also take up the matter OFB for action on their part, if any.

Method of verification

Sr. GM/GMs shall identify sensitive and high value items/machinery based on past records and get the stock items verified at higher frequency, if so desired. It is desirable that the staff and areas of verification should be rotated on completion of one or two cycles of verification. All the items are to be verified periodically (weekly, fortnightly, quarterly etc.) without fail. However, the cases of non-verification of items during the prescribed period be referred by Sr. GM/GM/Factory to DGOF/OFB, MM Division with sufficient explanation/justification.

Method of verification

By Weight By Counting By Assessment By Measurement By Volume Any other suitable method

Discrepancy Discrepancies, if any, shall be brought to the

notice of controlling officer immediately. Such cases/items shall be re-checked in presence

of A.O. and Controlling Officer and the resultant position will be brought to the notice of Sr. GM/GM for reporting to OFB for further action.

should also consider fixing responsibility for lapses in the part of HOD/Sr. GM/GM. In such cases, OFB should also consider fixing responsibility for lapses on the part of HOD/Sr. GM/GM. Cases for utilization in pricing decisions and review of issue prices during subsequent years.

REPORTING OF VERIFICATION STATUS

Annual Certificate for timely and prescribed frequency of verification of the stock of the factory shall be reported by HOD, i.e. Sr. GM/GM, to OFB for information of the Board. Discrepancies noticed shall soon be informed to OFB for further necessary action. OFB may device monthly/ quarterly reports for such information. Notified staff in MM Division shall submit discrepancy report on quarterly basis to DGOF for necessary action.

EXEMPTION/NON-VERIFICATION OF CERTAIN ITEMS

In exceptional cases where non-completion of stock verification is anticipated within any particular cycle, HOD/Sr. GM/GM of factory may approach OFB furnishing full details of the item and the anticipated compelled circumstances leading to non-verification/partial verification and with reasons why HOD/Sr. GM/GM was not able to fulfill this responsibility. In such cases OFB