Inventory Management: Risk and Control Matrix (Excel)
43 controls (36 key) for 13 objectives and 24 risks, each with walkthrough questions, evidence to ask for and test steps.
Risk Control Matrix · editable Excel · 3 sheets · ₹149 / $1.49 · lifetime access, up to 5 downloads
This matrix covers inventory of raw materials, packing materials, consumables, engineering spares and finished goods: policy and authority, item master data, gate inward controls, receiving of normal and bulk (tanker) consignments, quality hold, storage and handling (including hazardous materials), issues to production and other users, stock levels, stock transfers and goods in transit, returnable items, physical verification and stock adjustments, slow-moving stock and scrap, finished goods dispatch at the gate, and inventory valuation. For every control you see what good looks like, whether it is preventive or detective, manual or automated, how often it runs and whether it is a key control, plus the walkthrough questions, evidence to request and steps to test it. Record what you find, the control owner and any gap in the same sheet: the Summary sheet counts effective, partly effective and ineffective controls by objective as you go. Written so that an auditor new to the process can use it, and detailed enough for experienced reviewers. Editable Excel.
What's inside
- Read Me: how the matrix is laid out and how to use it in an audit
- Risk-Control Matrix: 13 objectives, 24 risks and 43 controls (36 key)
- Each control: type, nature, frequency, key or supporting, and how to evaluate it
- Columns for your response, evidence seen, control owner and gap / action
- Summary sheet: results by objective, updated automatically
Topics: Supply Chain · Production
Learn it on video
- Physical vs Logical and Independent vs Compensating Controls: Know the Difference (9 min)
- How to Use Reconciliations and Benchmarking: Worked Examples (7 min)
- How to Link Risks to Controls: The Risk and Control Matrix (RCM) (12 min)
- How to Describe Controls in the RCM: Method, Type, Frequency and Test Procedure (8 min)
- How to Test Controls (2): Test of Operating Effectiveness (7 min)
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