– Internal Audit Executive

Gold & Silver Manufacturing Firm

Position: Internal Audit Executive

Department: Internal Audit / Finance & Accounts

Industry: Gold & Silver Jewellery Manufacturing

Location: Bengaluru

Reporting To: CFO / Senior Management

Salary up 45k CTC

Job Purpose To conduct internal audits across Gold & Silver manufacturing, stock, production, purchase, sales, accounts and operations, ensuring proper controls, accurate stock records, prevention of losses/leakages, and compliance with company policies and procedures.

Key Responsibilities

1. Gold & Silver Stock Audit

- Conduct regular physical verification of gold and silver stock.
- Reconcile physical stock with ERP/system records and books.
- Verify opening stock, receipts, issues, transfers, returns and closing stock.
- Identify shortages, excesses, wastage and unexplained variances.
- Monitor stock movement between Gold, Silver, Production, Stock and Order departments.
- Verify purity, weight and documentation of precious-metal movements.

2. Manufacturing & Production Audit

- Audit the complete manufacturing process from raw material issue to finished goods.
- Verify material issue against approved production orders.
- Check manufacturing wastage, process loss and recovery.
- Verify job-work / karigar transactions and material reconciliation.
- Review production reports and identify unusual variances.
- Ensure proper documentation for scrap, melting, remaking and recovery.

3. Purchase & Vendor Audit

- Verify purchase invoices, purchase orders, GRNs and supporting documents.
- Check vendor bills against actual material received.
- Verify gold/silver purchase rates, weights and purity.
- Review vendor advances and outstanding balances.
- Identify duplicate, incorrect or unauthorized transactions.

4. Sales & Order Audit





- Verify sales invoices against customer orders and dispatch records.
- Check gold/silver weight, purity, making charges, discounts and other charges.
- Verify returns, cancellations and credit notes.
- Ensure proper authorization for discounts and price adjustments.

5. Cash & Accounts Audit

- Verify cash transactions, petty cash and expense claims.
- Check bank reconciliation and supporting documents.
- Review journal entries and unusual transactions.
- Verify payroll-related transactions where required.
- Coordinate with Finance & Accounts for audit observations.

6. Internal Control & Compliance

- Review adherence to company SOPs and internal controls.
- Identify process gaps, financial risks and control weaknesses.
- Recommend corrective and preventive actions.
- Monitor implementation of audit recommendations.
- Report suspected irregularities, fraud, pilferage or unauthorized transactions to management immediately.

7. Audit Reporting

- Prepare daily/weekly/monthly audit reports.
- Maintain audit working papers and supporting documents.
- Prepare variance and reconciliation statements.
- Present key audit findings to the CFO / Management.
- Track pending audit observations until closure.

Key Areas to Audit

Area

Major Audit Focus

Gold Stock

Weight, purity, movement & reconciliation

Silver Stock

Weight, purity, movement & reconciliation

Production

Material issue, output,



wastage & recovery

Job Work

Material issued vs received

Purchase

PO, invoice, rate, weight & purity

Sales

Invoice, order, weight & pricing

Returns

Physical goods & system reconciliation

Scrap

Weight, recovery & disposal

Cash

Cash book & supporting documents

Accounts

Vouchers, entries & reconciliations

Branches

Stock, cash & process compliance

Candidate Profile

- Qualification: B.A LLB / CA Inter / CMA Inter preferred.
- Experience: 2–5 years in Internal Audit / Jewellery Audit / Manufacturing Audit / Stock Audit.
- Experience in gold/silver jewellery manufacturing will be highly preferred.
- Strong knowledge of inventory reconciliation and audit procedures.
- Good understanding of accounting principles and internal controls.
- Robust Excel skills; experience with ERP/HRMS/accounting software is an advantage.
- Good analytical and numerical skills.
- High level of integrity and confidentiality.
- Willingness to conduct physical stock verification and factory/branch audits.

Key Skills Internal Audit | Stock Audit | Gold & Silver Reconciliation | Inventory Control | Manufacturing Audit | Physical Verification | MIS Reporting | Excel | ERP | Risk & Control | Fraud Detection | Accounting

KPIs

- Accuracy of stock reconciliation
- Timely completion of audits
- Reduction in stock variances
- Identification and closure of audit observations
- Compliance with SOPs
- Detection/prevention of financial and inventory leakages
- Accuracy of audit reports

Preferred candidate: Someone with hands-on experience in precious-metal stock accounting, jewellery manufacturing processes, production wastage/recovery and physical stock audits, rather than only general accounting experience.

📌 Internal Audit Executive (Bengaluru)
🏢 Anmol Swarn (India) Private
📍 Bengaluru